Four held for supplying adulterated ghee in fake Nandini packs across Bengaluru
Bengaluru (PTI): With the arrest of four people, a large network involved in producing adulterated ghee and selling them in fake 'Nandhini' packs is busted, Bengaluru Police on Saturday said.
The group produced adulterated ghee in Tamil Nadu and filled it into fake Nandini brand sachets and plastic bottles, and sold them across Bengaluru, they added.
"Four accused have been arrested in this case so far. Authorities have seized 8,136 litres of adulterated ghee, coconut and palm oil, Rs 1.19 lakh in cash, four goods vehicles used for transportation, machinery used for manufacturing the adulterated ghee, and other related items. The total value of the seized property is approximately Rs 1.27 crore," a statement issued by the office of Bengaluru Police Commissioner Seemanth Kumar Singh said.
"Understanding the high demand for Nandini ghee in Karnataka, the accused had been preparing adulterated ghee in Tamil Nadu, filling it into counterfeit Nandini sachets and plastic bottles, and supplying it to Bengaluru-based accused who held official KMF licenses," it added.
These accused were then distributing the adulterated ghee to various wholesale and retail shops and Nandini parlours across the city, passing it off as original Nandini ghee at the actual market price, it said.
"Based on intelligence gathered secretly by the CCB (Central Crime Branch) Special Investigation Squad and KMF (Karnataka Milk Federation) Vigilance Wing officers, the operation was tracked," it said.
According to police, On Friday, a joint team of the CCB Special Investigation Squad and the KMF Vigilance Wing conducted a raid on the godowns, shops, and goods vehicles belonging to Krishna Enterprises in Nanjamba Agrahara, Chamarajpet, owned by the main accused and their family members.
During the raids, a vehicle transporting adulterated ghee was seized and the driver arrested, they said.
A case has been registered at the CCB Special Investigation Division, police said, adding that further investigation is underway.
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Rupee falls 9 paise to all-time low of 90.58 against US dollar in early trade
Mumbai (PTI): Rupee depreciated 9 paise to an all-time low of 90.58 against US dollar in early trade on Monday, weighed down by uncertainty over an India-US trade deal and persistent foreign fund outflows.
Forex traders said rupee is trading with a negative bias as investors are in wait and watch mode and awaiting cues from the India-US trade deal front.
At the interbank foreign exchange market, the rupee opened at 90.53 against the US dollar, then fell further to an all-time intraday low of 90.58 against the greenback, registering a fall of 9 paise over its previous close.
On Friday, the rupee had slipped 17 paise to close at an all-time low of 90.49 against the American currency.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.05 per cent lower at 98.35.
Brent crude, the global oil benchmark, was trading higher by 0.52 per cent at USD 61.44 per barrel in futures trade.
On the domestic equity market front, the 30-share benchmark index Sensex was trading 298.86 points lower at 84,968.80, while the Nifty was down 121.40 points at 25,925.55.
Foreign Institutional Investors sold equities worth Rs 1,114.22 crore on Friday, according to exchange data.
"FPIs continue to be in selling mode in equity and debt while RBI has been selling dollars to fund their long positions," said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP.
