logo
DRI Mumbai seizes 160 tonnes of substandard Chinese toys, counterfeit cosmetics worth Rs 6.5 crore

DRI Mumbai seizes 160 tonnes of substandard Chinese toys, counterfeit cosmetics worth Rs 6.5 crore

Time of India29-07-2025
Mumbai: In a major crackdown on smuggling of substandard goods, the Directorate of Revenue Intelligence (DRI), Mumbai zonal unit, seized 160 metric tonnes of illegally imported Chinese toys, counterfeit cosmetics, and unbranded shoes, valued at over ₹6.5 crore.
Based on specific intelligence, DRI officers identified 10 containers at Mundra Port, Hazira Port, Kandla SEZ, and ICD Piyala (Faridabad). These containers, fraudulently declared as decorative items, keychains, and pencil boxes, were found concealed with large quantities of toys, cosmetics, and footwear.
The toys were imported without mandatory BIS certification, violating the Foreign Trade Policy and Toys (Quality Control) Order, 2020. Counterfeit cosmetics infringed Intellectual Property Rights (Imported Goods) Enforcement Rules, 2007, and lacked required CDSCO licenses. The unbranded shoes also breached the Footwear (Quality Control) Order, 2024.
You Can Also Check:
Mumbai AQI
|
Weather in Mumbai
|
Bank Holidays in Mumbai
|
Public Holidays in Mumbai
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Illegal stockpile of Anna Bhagya scheme rice seized
Illegal stockpile of Anna Bhagya scheme rice seized

Time of India

time36 minutes ago

  • Time of India

Illegal stockpile of Anna Bhagya scheme rice seized

Udupi: Acting on a tip-off, officials seized over eight quintals of rice meant for free distribution under the Anna Bhagya scheme from a godown near a house in Masti Katte, Molahalli village, Kundapur taluk. Complainant HS Suresh from Koni village received information that rice meant for free distribution under the Anna Bhagya scheme was being illegally stored in a godown near the house of a person named Uday in Masti Katte, Molahalli village, on Monday. Following this tip-off, the complainant went to Kota police station and, along with police officers and staff, conducted a raid at 8pm at the said location. Upon inspection, they found bags of rice stored in white polythene sacks inside the godown. It was confirmed that the rice was part of the govt-supplied free ration under the Anna Bhagya scheme and was illegally stockpiled. As a result, a total of 8.4 quintals of rice, along with one weighing scale, was seized. A case was registered at Kota police station invoking Sections 3 and 7 of the Essential Commodities Act, and Sections 3(2) and 18(1) of the Karnataka Public Distribution System (Control) Order.

Donald Trump says will announce new tariff plan for semiconductors and chips next week because: We want them to ...
Donald Trump says will announce new tariff plan for semiconductors and chips next week because: We want them to ...

Time of India

time2 hours ago

  • Time of India

Donald Trump says will announce new tariff plan for semiconductors and chips next week because: We want them to ...

Donald Trump US President Donald Trump announced that new tariffs on semiconductor and chip imports will be unveiled "within the next week or so," as his administration pursues an aggressive trade policy aimed at bringing manufacturing back to the United States. "We're going to be announcing on semiconductors and chips, which is a separate category, because we want them made in the United States," Trump said during an interview on CNBC's "Squawk Box." The president, however, did not provide specific details about tariff rates or implementation timelines. The announcement comes as the Commerce Department has been investigating the semiconductor market since April to lay the groundwork for possible tariffs on an industry expected to generate nearly $700 billion in global sales, according to Bloomberg. The vast majority of the world's most advanced semiconductors currently come from Taiwan, home to major chipmaker TSMC, whose customers include tech giants Apple, Nvidia, Qualcomm and AMD. Trump's recent policy shifts show selective approach The semiconductor tariff announcement follows Trump's recent decision in April to exclude smartphones, computers, and other electronics from higher tariffs, though other existing duties remain in place. US Customs and Border Protection updated its guidance to exempt various tech products from the 125% additional tariff on Chinese goods and the base 10% global tariff. Despite Trump's claims that "people love the tariffs," his approval rating has declined in multiple poll trackers' latest updates, per CNBC. Historical data, as quoted in the CNBC report, shows that the president's first-term trade war with China actually expanded China's trade surplus with the US between 2018 and 2021, according to industry reports. Trump had sharply criticized the Biden administration's $52 billion CHIPS Act subsidies as "ridiculous," arguing that tariff threats provide superior incentives for domestic manufacturing. "We will have more plants built in the next short period of time than ever before because the incentive will be there," Trump stated at a House GOP conference earlier this year in January, though he provided no specific timelines for these projected developments. AI Masterclass for Students. Upskill Young Ones Today!– Join Now

Chinese group Ant Financial exits Paytm, sells 5.84 pc stake for Rs 3,980 crore
Chinese group Ant Financial exits Paytm, sells 5.84 pc stake for Rs 3,980 crore

News18

time2 hours ago

  • News18

Chinese group Ant Financial exits Paytm, sells 5.84 pc stake for Rs 3,980 crore

Agency: PTI New Delhi, Aug 5 (PTI) Chinese billionaire Jack Ma's Ant Financial on Tuesday exited One97 Communications, the parent company of Paytm, by selling its entire 5.84 per cent stake for Rs 3,980 crore through open market transactions. Ant Group, through its affiliate Antfin (Netherlands) Holding BV, offloaded around 3.73 crore equity shares of Noida-based One97 Communications in large deals. Ant Group, formerly known as Ant Financial, is an affiliate company of the Chinese conglomerate Alibaba Group. Shares of One97 Communications fell 2.38 per cent to close at Rs 1,052.65 apiece on the BSE. According to the bulk deal data on the BSE, Antfin (Netherlands) Holding BV offloaded nearly 3.73 crore equity shares, representing 5.84 per cent stake, in two tranches. The shares were sold in the price range of Rs 1,067.53-1,067.63 apiece, taking the combined deal value to Rs 3,980.76 crore. As of the June quarter, Antfin (Netherlands) Holding BV owned a 5.84 per cent stake in Paytm. Meanwhile, Paris-based financial services company Societe Generale through its two affiliates bought a total of 67.50 lakh shares or 1.06 per cent stake in Paytm for Rs 720.56 crore. In addition, Hong Kong-based Management through its arm — MY Asian Opportunities Master Fund LP — purchased 35 lakh equity shares or 0.55 per cent stake in Paytm for Rs 373.62 crore. Management HK Advisors has been responsible for the management of York Capital Management Global Advisors LLC's Asian hedge fund business. ultimate control is under Masahiko Yamaguchi. The shares were acquired at an average price of Rs 1,067.50 apiece on the BSE. Details of the other buyers of One97 Communications' shares could not be ascertained on the exchange. After the exit by Ant Group, Resilient Asset Management BV, an entity owned by founder Vijay Shekhar Sharma and his family members, and Hong Kong-based private equity firm SAIF Partners hold more than 10 per cent stake in Paytm. SAIF Partners, through its two affiliates, owns a 15.34 per cent stake in Paytm as of June 2025, according to the shareholding data on the BSE. Resilient Asset Management BV holds a 10.24 per cent stake while Vijay Shekhar Sharma owns a direct 9.07 per cent stake in the payment services provider. Earlier, Chinese internet firm Alibaba Group was the biggest shareholder in Paytm with a 34.7 per cent stake before the company's initial public offering in November 2021. Alibaba group firm Antfin sold around 5 per cent shares to lower its stake below 25 per cent in Paytm to comply with regulatory requirements at the time of IPO. To shed its Chinese-owned entity image, Paytm in August 2023 announced that Antfin would transfer its 10.3 per cent stake in Paytm to Resilient Asset Management BV. In return, Resilient issued a debt instrument — optionally convertible debentures– to Antfin, thereby maintaining the economic interest of the Alibaba group firm. With this transaction, Antfin's direct stake in Paytm was reduced to 13.5 per cent. Ant Group had been shedding its stake in Paytm after the listing in 2021. At the end of March 2025, the Chinese fintech giant had nearly 10 per cent stake in Paytm. In May this year, Ant Group offloaded more than 2.55 crore shares or a 4 per cent stake in One97 Communications for Rs 2,103 crore. PTI HG MR view comments First Published: August 05, 2025, 22:15 IST News agency-feeds Chinese group Ant Financial exits Paytm, sells 5.84 pc stake for Rs 3,980 crore Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store