Chennai: DMK leader MK Stalin on Friday surrendered his illegally-imported Hummer to the Central Bureau of Investigation (CBI) in Chennai. Sources said Stalin's son Udayanidhi came to the Chennai office of the agency and handed over Sports Utility Vehicle Hummer which was imported in 2007 and registered in his name.
They said the car was one of the vehicles which were allegedly imported by Hyderabad businessman Alex C Joseph evading customs duties and sold to influential people at attractive rates.
In a nation-wide search operation in March, CBI had recovered at least 33 luxury vehicles from various places which were alleged to have been imported by Joseph in alleged violation of the laws.
The search by the CBI team at the residence of Stalin to look for a Hummer, just couple of days after DMK withdrew support from UPA Government, had sparked a political storm with the agency launching an internal inquiry to see if there were any procedural lapses in searches....
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08:49 PM, May 17, 2013
Mumbai: With gold imports putting pressure on the current account deficit, the Reserve Bank on Monday imposed restrictions on import of the yellow metal by banks. "To moderate the demand for gold for domestic use, it has been decided to restrict the import of gold on consignment basis by banks, only to meet the genuine needs of exporters of gold jewellery," the RBI said in a statement. As per a...
03:36 PM, May 13, 2013
New Delhi: Country's merchandise exports grew by 1.6 per cent to $24.16 billion in April this year, whereas imports increased by 10.9 per cent. Imports during the reported month stood at $41.95 billion. Exports in April 2012 stood at $23.7 billion, while imports were at $37.8 billion. Due to high imports, the trade deficit rose to $17.8 billion, Commerce Secretary SR Rao told reporters on Monday. Rao attributed the widening...
01:45 PM, May 13, 2013
New Delhi: India expects total monsoon rainfall to be average in 2013, a minister said on Friday, strengthening prospects for one of the world's biggest grains producers to avoid widespread drought for a fourth straight year. India's first official forecast confirms a call by global experts last week, and points to bumper grain supplies that would swell huge current stockpiles and hold down world food prices. "Most likely this year's...
04:59 PM, Apr 26, 2013
Gold extended losses to hit its lowest level in ten months on global cues, attracting bargain hunters in the wedding season. ...
05:16 PM, Apr 03, 2013
Finance Minister P Chidambaram suggested on Tuesday that the government is unlikely to raise the import tax on gold further to avoid gold smuggling and would instead introduce inflation-indexed instruments to help curb a record current account deficit. ...
12:44 PM, Apr 02, 2013
It is not just DMK chief M Karunanidhi's younger son and his heir apparent MK Stalin and his son Udayanidhi, but even the DMK chief's elder son and former central minister MK Alagiri allegedly used illegally imported cars. Now CNN-IBN exposes how a Directorate of Revenue Intelligence (DRI) officer allegedly covered up the illegal car imports of Alagiri , Stalin and his son and how luxury import cars used by...
06:12 PM, Mar 25, 2013
The Cabinet will take up the crucial shale gas exploration policy in two weeks, Petroleum Minister M Veerappa Moily said Sunday. ...
06:40 PM, Mar 24, 2013
An ICC official was caught allegedly bringing into the country a silver trophy worth Rs 20 lakh without paying customs duty at IGI aiport here following which it was seized. ...
06:00 PM, Mar 24, 2013
Government's plans to set up a fund to back local insurers providing cover for refiners processing Iranian oil after companies warned they would be forced to halt imports from the sanctions-hit nation, the federal oil secretary said on Sunday. ...
05:47 PM, Mar 24, 2013
The recent CBI raids on DMK leader and M Karunanidhi's son MK Stalin revealed an elaborate smuggling scam amounting to a Rs 50 crore tax evasion. The incident caused huge political ruckus in New Delhi. While no illegal car was found in the DMK leader's house, the CBI did recover several vehicles from others - notably N Srinivasan. ...
07:58 AM, Mar 23, 2013
CBI has recovered 16 more luxury vehicles imported by a Hyderabad-based businessman in alleged violation of customs laws which have been sold to various influential persons even as the SUV registered in the name of DMK leader M K Stalin's son rpt son remained untraceable. ...
12:25 AM, Mar 23, 2013
The CBI on Friday seized 11 cars belonging to BCCI chief and India Cements promoter N Srinivasan as part of its ongoing raids in Chennai, sources said. The sources added that Srinivasan had evaded paying tax on the imported cars. ...
08:33 PM, Mar 22, 2013
The CBI has said that the imported cars scam unearthed in Chennai may perhaps be the biggest of its kind in India. The scam, in which, the CBI says that officials of the Directorate of Revenue Intelligence (DRI) are also involved, reportedly caused a loss of Rs 50 crore to the government exchequer. ...
04:43 PM, Mar 22, 2013
A day after the Central Bureau of Investigation stopped raids on DMK supremo Karunanidhi's son MK Stalin for illegal car imports, the agency on Friday continued to conduct search operations across Chennai and other places in Tamil Nadu. No raids were conducted on the DMK first family. ...
11:44 AM, Mar 22, 2013
Sources say Stalin has not been named in the FIR and add that the agency was just looking for a car on the complaint of the Directorate of Revenue Intelligence. ...
11:39 AM, Mar 21, 2013
Finance Minister P Chidambaram has said he disapproves of the CBI raids on DMK leader and Karunanidhi's son MK Stalin as it is bound to be misunderstood. Speaking to CNN-IBN, Chidambaram said, "I strongly disapprove of the action by the CBI. It will be misunderstood. I have spoken to the minister concerned." ...
09:36 AM, Mar 21, 2013
MK chief M Karunanidhi's son MK Stalin's house is being searched by the Central Bureau of Investigation (CBI) in Chennai in connection with alleged illegal import of cars worth Rs 20 crore. Calling it political vendetta, Stalin said, "I am being targeted. It is quiet clear, why I am being targeted. We will face the case legally. I am unaware of the reasons for the CBI raid." ...
09:18 AM, Mar 21, 2013
The Central Bureau of Investigation (CBI) is conducting raids at the residence of DMK leader MK Stalin in connection with a case involving illegal import of foreign cars worth Rs 20 crore. The raids come two days after the DMK pulled out of UPA government. ...
08:11 AM, Mar 21, 2013
India may slash import of crude oil from Iran by as much as 27 per cent this fiscal because US and European sanctions have made it difficult to ship oil from the Persian Gulf nation. ...
03:32 PM, Mar 18, 2013
