Excise raid at narela firm manufacturing spare parts
The central excise department conducted a raid in the Narela industrial area on Thursday and recovered goods worth Rs 95 lakh and Rs 1.49 crore cash.Updated: Jul 01, 2011 23:19 IST
The central excise department conducted a raid in the Narela industrial area on Thursday and recovered goods worth Rs 95 lakh and Rs 1.49 crore cash. The defaulting company — M/s Pramod Auto Parts Private Limited — was engaged in manufacturing branded auto parts, suppressing their production and resorting to clandestine removals through their wide network of dealers and distributors, in major cities across the country. The residential premises of company owner Pramod Gupta was also searched in this connection.
The company was into the manufacture of a variety of spare parts for four-wheelers. In addition, a large number of incriminating documents, showing duty evasion have been recovered. Further investigation in the case is on.
The number of cases involving duty evasion registered in 2010-11 was 34, as against 31 cases in 2009-10, with duty to the tune of Rs 21.11 crore and Rs 18.46 crore evaded respectively. The search operation on Thursday was carried out under AK Srivastava, commissioner, central excise department.