Vice President of Sterlite Industries Varadharajan was arrested today in connection with alleged duty evasion of Rs 750 crore, excise officials said. Sterlite Industries is India’s largest non ferrous and mining company.

The sources said the alleged duty evasion in import of raw materials for production of copper products was detected during a raid in the factory premises here for the past two days. They said Varadharajan has been remanded to 15 days judicial custody.

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Category : Excise Duty (4144)
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Tags : prosecution (7) Tax Evasion (141)

0 responses to “Vice President of Sterlite Industries Varadharajan arrested for alleged duty evasion of Rs 750 crore”

  1. Rusel.R says:

    This scam did not happen in a overnight, definitly the hands of then Finance minister’s would be there. He was among the directors up to the year 2004. This is a live example, how the corporate houses are looting our country with the help of corrupt politicians.

    Read more: https://www.taxguru.in/excise-duty/vice-president-of-sterlite-industries-varadharajan-arrested-for-alleged-duty-evasion-of-rs-750-crore.html/comment-page-1#comment-90030#ixzz0vhXSldxh

  2. Rusel.R says:

    This scam did not happen in a overnight, definitly the hands of then Finance minister’s would be there. He was among the directors up to the year 2000. This is a live example, how the corporate houses are looting our country with the help of corrupt politicians.

    Read more: https://www.taxguru.in/excise-duty/vice-president-of-sterlite-industries-varadharajan-arrested-for-alleged-duty-evasion-of-rs-750-crore.html/comment-page-1#comment-90028#ixzz0vhXJX3Fh

  3. Rusel.R says:

    This scam did not happen in a overnight, definitly the hands of then Finance minister’s would be there. He was among the directors up to the year 2000. This is a live example, how the corporate houses are looting our country with the help of corrupt politicians.

  4. Atma Gandhi says:

    A company is run by Board of Directors and CEO or MD should be arrested if a company evades Duty or tax. Dealing officers should only be asked to provide information as they act only for & on behalf on company. A Company is a separate legal entity and this simple fact is ignored by Corrupt govt. Departments to save themselves.

  5. suresh kumar nair says:

    This Tax Evasion alleged can not take place overnight. The excise &custom people does periodic checks? I am sure that it is a knee jerk action by Excise people rather than on concrete proofs.More over Sterlite has its internal checks & balances to avoid such flaw.

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