Emami unveils new logo
"Our rebranding marks a pivotal step in Emami's evolution," said Harsha Vardhan Agarwal, vice-chairman & managing director, Emami Limited.
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Hindustan Times
37 minutes ago
- Hindustan Times
Mithi River fraud: EOW submits charge-sheet against two middlemen
MUMBAI: A 7,000-page charge-sheet has been submitted against two alleged middlemen involved in the Mithi River desilting fraud. Police said the charge-sheet also names deputy chief engineers Prashant Ramgude and Ganesh Bendre of the storm water drains department of the Brihanmumbai Municipal Corporation (BMC), and civic official Prashant Tayshete. Mumbai, India - May 7, 2025:EOW Dept of Mumbai Police arrested 2 accused Ketan Kadam and Jay Joshi Mithi River Desilting case and produced at Esplanade Court, in Mumbai, India, on Wednesday, May 7, 2025. (Photo by Anshuman Poyrekar/ Hindustan Times) (Hindustan Times) 'We have submitted a charge-sheet of more than 7,000 pages before the EOW (Economic Offences Wing) court. The court is yet to take cognisance of the chargesheet,' said a police officer, adding that around 15 people have been cited as witnesses. The charge-sheet was submitted by the Economic Offences Wing (EOW) of the Mumbai Police in the Esplanade metropolitan magistrate court on Friday. The case relates to a ₹65.54-crore fraud that involves the manipulation of tenders to favour certain middlemen, in the desilting of the Mithi River. 'Our evidence in the charge-sheet is primarily receipts, statements, air-ticket copies of foreign trips of BMC officers, which show how the two arrested accused middlemen, who acted as middlemen, sponsored foreign trips for BMC officials. These middlemen are Ketan Kadam, director of Woder India LLP, a Mumbai-based company that provides desilting services, and Jayesh Joshi, who is associated with Virgo Specialties Pvt Ltd, a Mumbai-based industrial products manufacturer. The middlemen then got contracts to supply equipment to the contractors at inflated rates. The equipment was then supplied to the BMC,' said a police officer. Police have charged the accused under sections 406 (criminal breach of trust), 420 (cheating), 465 (forgery) and 120B (criminal conspiracy) and 474 (possessing a forged document or electronic record with the intention of using it as genuine) of the Indian Penal Code (IPC). Police said that prima facie investigations show that Kadam and Joshi, who acted as middleman in the desilting scam, had together received ₹9 crore. Kadam and Joshi are among 13 people named in the First Information Report (FIR). Investigators have questioned all 13 accused including actor Dino Morea and his brother, but have made only two arrests so far. These are Ketan Kadam and Jayesh Joshi, both of whom are out on bail. 'We have kept the option of further investigations open under section 193 (3) of the Bharatiya Nagarik Suraksha Sanhita (BNSS), for further investigations in the charge-sheet,' said the police officer. The FIR was registered in May, against 13 people, including three civic officials, for allegedly causing a loss of ₹65.54 crore to the BMC through irregularities in the execution of contracts for desilting the Mithi River. The FIR also names senior executives of the contractors involved in the desilting project, such as Matprop Technical Services, Virgo Specialties, Woder India, Acute Designs, Kailash Construction Company, NA Constructions, Nikhil Constructions and JRS Infrastructure. The alleged scam took place between 2013 and 2023, officials said. A special investigation team (SIT) was constituted in August 2024 after questions were raised in the state legislative council about alleged irregularities in the desilting of the 17.84-km-long river.
Economic Times
37 minutes ago
- Economic Times
US defense bill proposes examination of Apple display supplier
A measure added into a massive U.S. defense spending bill in recent weeks will, if passed, ask the Pentagon to determine whether one of Apple's display suppliers should be listed as a Chinese military company. Being on the list does not block companies from doing business in the U.S. but will in coming years block them from being part of the U.S. military's supply chain. The bill, known as the National Defense Authorization Act, was approved in July by key committees in both houses of the U.S. Congress. The final bill, considered a "must-pass" because it funds the U.S. military, is expected to become law later in the year. When the bill was approved by the U.S. House of Representatives Armed Services Committee, a newly added amendment for the first time asked the U.S. Defense Department to consider whether BOE Technology Group Co, listed on Apple's official suppliers list, should be added to a list of firms that allegedly aid China's military. BOE and Apple did not respond to requests for comment. Craig Singleton, a China expert at the Foundation for Defense of Democracies, a Washington think-tank, said Beijing had offered billions of dollars in subsidies, tax breaks and loans to help firms such as BOE dominate global panel production. "This creates a single-source vulnerability that could be easily exploited to disrupt or degrade U.S. military operations, not to mention undermine commercial supply chains, during a conflict or period of heightened bilateral tension with Beijing," Singleton added. A study published last month by New York-based NERA Economic Consulting and commissioned by BOE's U.S. subsidiary found that the display industry, which includes major Korean players such as Samsung Electronics and LG Electronics, remains highly competitive, with no single player capable of significantly affecting global prices. "There is no credible risk of a supply chain disruption by mainland China display manufacturers," the report said.
Hindustan Times
an hour ago
- Hindustan Times
Turbhe paint factory found misusing govt-subsidised fertiliser
MUMBAI: In a statewide crackdown on the misuse of government-subsidised fertilisers, a large-scale irregularity from a Turbhe-based paint manufacturing company was recently unearthed by the quality control department. The fertilisers, exclusively meant for farmers, were allegedly used by the company after the department found their Benzene Soluble material containing neem oil, a marker of agricultural-grade need-coated urea. Turbhe paint factory found misusing govt-subsidised fertiliser The matter came to light on June 6 after a team from the quality control department carried out a surprise inspection at the company's industrial units in Dombivli and Turbhe, suspecting diversion of subsidised agricultural urea for commercial manufacturing. Around 4,690 bags of urea, each weighing 50kg and labelled 'Technical Grade Urea for Industrial Use Only', were found. To verify its contents, samples were sent to the fertiliser Control Laboratory in Nashik. 'The lab results clearly prove the urea in question was not technical grade as claimed, but subsidised neem-coated fertiliser meant exclusively for farmers. This is a serious breach of law and public trust,' stated Balaji Manchakrao Shinde, district quality control inspector, in his official complaint with the Turbhe police. After the lab results were sent to the department on June 30, the authorities issued a show cause notice on July 3 and placed a sales ban on the remaining 171.271 metric tons of urea, valued at ₹91.47 lakh, that were found on-site. The company's initial documentation was submitted on July 7 and was deemed incomplete. Additional documents submitted on July 11 reportedly failed to justify the procurement and use of stock. 'When we requested documents such as purchase bills, delivery challans, and usage logs, the company representatives reportedly failed to produce them,' said the investigating officer. 'The accused have colluded to misuse government-subsidised fertiliser for personal gain and committed fraud against the government,' Shinde further stated in his complaint. An FIR was registered on July 28 against 14 accused from the company for conspiracy, misuse of government resources, intentional deception for financial gain and other relevant sections of the Essential Commodities Act, 1955, Bharatiya Nyaya Sanhita 2023, and the Fertiliser Movement and Handling Control Order, 1973. The Turbhe police said the matter is currently under investigation.
