By Our Correspondent
BHUBANESWAR/BARBIL: BS Minerals along with its sister concern M/s Mangalam Metals & Ores Ltd, which has been engaged in Trading and Export of Iron Ore , came under scanner afte the commissionerate of customs (preventive) recovered over Rs 8 crore duty from a Keonjhar-based mines exporter and seized his company’s iron ore worth nearly Rs 27 crore.
A team of the Commissioner of Customs Preventive, Bhubaneswar led by Debasish Sahu conducted raids on the premises of a number of exporters and customs house agents in the State on the allegations of evasion of customs duty.
During investigation, the officers detected non-payment of customs duty by BS Minerals, Keonjhar on iron ore fines exported to China from the Paradip Port in vessel ‘MV Magnum Fortune’. The iron ore was seized from a China-bound ship at Paradeep port in Jagatsinghpur district.This was one of the biggest hauls by the customs (preventive) wing in Odisha in the recent past, sources said.
“During investigation, we came to know about the non-payment of customs duty by M/s B S Minerals, Keonjhar on the iron ore fines. The company was about to export the goods to China from Paradeep Port in a vessel, MV Magnum Fortune,” a senior customs (preventive) officer said.
While the exact volume of the exporter’s duty arrear was being ascertained, officials said he deposited customs duty to the tune of nearly Rs 8.7 crore to the government following the raid. Later the officials seized 52.051 MT iron ore fines worth about Rs 26.92 crore from the China-bound vessel at Paradeep port. No arrest has so far been made in the alleged customs duty evasion case.
The exporter, who was unavailable for comment, submitted a bank guarantee of Rs one crore and a bond of Rs 5.4 crore for provisional release of the seized goods from the custody of the customs. “Our investigation into the case is in progress. The company’s officials would be summoned to face hearing at our office,” the customs officer said.
