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India CBI launches raids at offices of Steel Rolling Mills
The Special Crime Branch of the Central Bureau of Investigation (CBI) today raided the offices of four city-based Steel Rolling Mills, after it came to light that they evaded central excise, running into several crores of ruppees. Highly placed sources in CBI told UNI that the simultaneous raids, which began this morning, went on late this evening and would continue througout the night. Besides the offices of four Mills, including J R Smelter Private Limited and Indo-Steel Re-Roller, raids were also conducted at the residence of Mr Ramchandran, Managing Director of J R Smelter Private Limited, they said. During the search, Sleuths of CBI have so far seized Rs 17 lakh in cash and fake documents as if they had paid central excise and fake rubber stamps, the sources said. The CBI suspect the involvement of some public servants in the fraud, the sources said, adding the raids were likely to continue tomorrow also. -- (UNI) -- 20MS60.xml
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