News

In a raid in a hotel in Delhi's Karol Bagh, Rs 3.25 crore was seized in old notes Raids are being carried out across the country by the Income Tax Department in the wake of the burgeoning fake currency racket post demonetisation, as currencies both new and old have been seized in large amounts from Bengaluru, Panjim and Faridabad besides the national capital. Rs 2.25 crore has been seized in Bengaluru by the I-T Department in new currency, while Rs 68 lakh has been seized in Panjim. In Faridabad, four were arrested with new currency of over Rs 25 lakh in the new Rs 2000 notes. Meanwhile, in Delhi, yet another raid was carried out at a hotel in Karol Bagh following which the massive amount of Rs 3.25 crore was recovered in old notes. Upon interrogation it was found that the money belongs to some Bombay based hawala operators, who have hired packaging specialists who pack these notes in such a manner that it was even undetectable by airport scanning machines. These ex...

In a dingy factory in the sprawling industrial hub of Manesar in northern India, a plastic moulding machine malfunctioned, mangling Visheshwar Prasad Singh’s right hand as he made parts for a supplier to the country’s major automakers. Singh was one of thousands of poor labourers, many temporary, who toil for 12 hours a day making auto parts for as little as $3-a-day to feed India’s cheap car boom. “I had no training to use the machine and was asked to operate it one day,” said the 51-year-old, who made parts for Ranee Polymers, supplying to Honda Motor and Yamaha Motor.  Read Full Article Over Here :  Business Standard News