Latest news with #MukeshGupta
Time of India
17-05-2025
- Time of India
Mobile court cracks down on unlicenced bizs, encroachments
I ndore: A mobile court on Saturday cracked down on encroachments and unlicenced businesses in Indore, resulting in the recovery of Rs 3.37 lakh from more than 80 establishments. In a concerted effort to ensure public health by providing citizens with clean and pure food and beverages, controlling adulteration and unsanitary conditions, and taking action against encroachments and unlicensed businesses, a special drive was conducted in the Tower Chauraha, Agrasen Chauraha, Sindhi Colony Road, and surrounding areas. This was under the direction of special judicial magistrate (municipal magistrate) Mukesh Gupta. Under his guidance, a team comprising the mobile court, along with officials and employees from the removal and market departments of the municipal corporation, carried out inspections and actions on shops situated along both sides of Tower Chauraha, Agrasen Chauraha, Sindhi Colony Road, their adjacent areas, and connecting routes. During the operation, authorities took action against illegally constructed sheds on footpaths and roadsides, encroachments, shopkeepers operating without a valid municipal licence, and those found littering and creating unsanitary conditions. Over 80 fines were levied on the spot, recovering a total amount of Rs 3.37 lakh. Senior civic body officials remained present during the drive.
New Indian Express
02-05-2025
- New Indian Express
67-year-old Singapore citizen arrested in Rs 10 crore international timber fraud in Delhi
NEW DELHI: A 67-year-old Singapore citizen, Mukesh Gupta, was arrested in connection with a Rs 10 crore international fraud involving the supply of timber from New Zealand to India, police said on Wednesday. Gupta, an OCI (Overseas Citizen of India) cardholder, was accused of duping M/s Chaudhary Timber Industries Pvt. Ltd. (CTIPL). The case was registered in July 2022 following CTIPL's complaint, which stated that Gupta, representing M/s Amrose Singapore Pte. Ltd., had entered into an agreement to supply timber. However, forged Bills of Lading and fake shipping documents were submitted to the bank, leading to the release of Rs 10 crore, despite no shipment taking place. According to Additional CP (EOW) Amrutha Guguloth, investigations confirmed the BLs were fake through verification with the ship owner, agent, and insurer. Gupta had evaded questioning citing medical issues but was finally arrested on April 22. He was found to have fabricated documents and misused company names and seals to fraudulently secure payments against Letters of Credit.
The Print
01-05-2025
- Business
- The Print
Singapore based Indian held in Rs 10 crore international trade scam
According to the complaint, the firm had entered into an agreement with Gupta's company for timber imports from New Zealand and made payments through Letters of Credit (LC). However, the shipment never arrived, police said in a statement. The accused, Mukesh Gupta, Managing Director of a private limited company was arrested on April 22 following a complaint filed by a Delhi-based firm for defrauding them in a timber import deal. New Delhi, May 1 (PTI) The Economic Offences Wing (EOW) of the Delhi Police has arrested a 67-year-old Singapore citizen for his alleged involvement in the case of Rs 10 crore international trade fraud involving forged shipping documents, an official said Thursday. Investigations revealed that Gupta submitted forged Bills of Lading (BLs) and fabricated shipping documents to a bank in Singapore which forwarded them to the bank located in Connaught Place. Acting on these fraudulent papers, the bank released around Rs 10 crore, despite no cargo being shipped, the statement read. Teams verified the documents with shipment agencies, all of whom denied any such shipment. The ship named in the documents had not carried any such consignment to India, confirming the BLs were completely fictitious, it said. The fake documents were seized from the bank's branch and formed a crucial part of the evidence. Gupta had repeatedly evaded investigation by citing health issues, but he joined the probe and was taken into custody, read the statement. Following his arrest, Gupta was remanded to one day of police custody on April 29. During interrogation, he provided vague and misleading responses and was subsequently remanded to judicial custody until May 14. He was confronted by representatives from the shipping firm, who confirmed that their company's name and seal had been used fraudulently. The accused's modus operandi involved forging BLs, invoices, and insurance documents using the names of legitimate international entities to obtain illicit funds against LCs, without delivering any goods. The EOW has officially notified the High Commission of Singapore in Delhi about his arrest as per diplomatic protocol. Further investigation into the case is ongoing, the statement added. PTI BM BM HIG HIG This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Hindustan Times
01-05-2025
- Business
- Hindustan Times
Singapore based Indian held in ₹10 crore international trade scam
New Delhi, The Economic Offences Wing of the Delhi Police has arrested a 67-year-old Singapore citizen for his alleged involvement in the case of ₹10 crore international trade fraud involving forged shipping documents, an official said Thursday. The accused, Mukesh Gupta, Managing Director of a private limited company was arrested on April 22 following a complaint filed by a Delhi-based firm for defrauding them in a timber import deal. According to the complaint, the firm had entered into an agreement with Gupta's company for timber imports from New Zealand and made payments through Letters of Credit . However, the shipment never arrived, police said in a statement. Investigations revealed that Gupta submitted forged Bills of Lading and fabricated shipping documents to a bank in Singapore which forwarded them to the bank located in Connaught Place. Acting on these fraudulent papers, the bank released around ₹10 crore, despite no cargo being shipped, the statement read. Teams verified the documents with shipment agencies, all of whom denied any such shipment. The ship named in the documents had not carried any such consignment to India, confirming the BLs were completely fictitious, it said. The fake documents were seized from the bank's branch and formed a crucial part of the evidence. Gupta had repeatedly evaded investigation by citing health issues, but he joined the probe and was taken into custody, read the statement. Following his arrest, Gupta was remanded to one day of police custody on April 29. During interrogation, he provided vague and misleading responses and was subsequently remanded to judicial custody until May 14. He was confronted by representatives from the shipping firm, who confirmed that their company's name and seal had been used fraudulently. The accused's modus operandi involved forging BLs, invoices, and insurance documents using the names of legitimate international entities to obtain illicit funds against LCs, without delivering any goods. The EOW has officially notified the High Commission of Singapore in Delhi about his arrest as per diplomatic protocol. Further investigation into the case is ongoing, the statement added.
Reuters
26-04-2025
- Business
- Reuters
India urging firms to acquire overseas iron ore, coking coal assets, official says
Labourers load coal onto a supply truck on the outskirts of Jammu April 6, 2017. REUTERS/Mukesh Gupta/File Photo Purchase Licensing Rights, opens new tab MUMBAI, April 26 (Reuters) - India is encouraging companies to acquire iron ore, coking coal, and other key raw material assets overseas, Steel Secretary Sandeep Poundrik said on Saturday, as the country ramps up its steelmaking capacity to meet rising demand. "We are encouraging our companies to acquire assets abroad, right from iron ore to coking coal to even limestone and dolomite," Poundrik said at an industry event in Mumbai. "Raw material securitisation is the most important aspect of steelmaking." The Reuters Tariff Watch newsletter is your daily guide to the latest global trade and tariff news. Sign up here. India, the world's second-largest producer of crude steel, aims to boost its overall steelmaking capacity to 300 million tons by 2030, up from about 200 million tons currently. To support this expansion, coking coal imports are projected to rise to 160 million tons by 2030 from around 58 million tons now, Poundrik had projected on Friday. Despite an uptick in steel output, India's coking coal imports dipped 0.7% in the fiscal year ended in March due to lower shipments from Australia and the United States, said commodities consultancy BigMint. India relies on imports to meet 85% of its coking coal needs, with Australia supplying more than half of those shipments. In a bid to diversify supply, India has also been exploring partnerships with Mongolia. However, logistical challenges remain in sourcing material from the landlocked country, Poundrik noted. India's state-run miner NMDC ( opens new tab is exploring coking coal assets, in Indonesia and Australia, Chairman Amitava Mukherjee said on Thursday. Our Standards: The Thomson Reuters Trust Principles., opens new tab Neha Arora Thomson Reuters Neha reports on metals and mining in India. In her time at Reuters, she has reported on the pandemic when she was a finalist in the Breaking News of the Year category for Journalists of the Year Awards. She has also reported on India's trade policy, central bank's monetary policy, FX/debt markets, as well as done a brief stint with the desk and edited stories. She is a postgraduate with a diploma in journalism from Mumbai's Xavier Institute of Communications, and a graduate in English literature from University of Delhi.
