Financial Daily from THE HINDU group of publications
Tuesday, Jun 25, 2002
Financial Daily from THE HINDU group of publications Tuesday, Jun 25, 2002 |
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Agri-Biz & Commodities
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Foodgrains Co blacklisted for illegal diversion of exportable rice Our Bureau
NEW DELHI, June 24 THE Union Government has blacklisted a Punjab-based rice exporter, Sharp Menthol India Ltd, for its alleged role in diversion of rice meant for exports to the local market. ``All transactions by FCI with this firm have been stopped. Further, the bank guarantee deposited by the firm with FCI is being encashed,'' according to an official release. The Assistant Manager in FCI's Bhatinda depot has also been placed under suspension for his connivance with the firm. The Minister of Consumer Affairs, Food and Public Distribution, Mr Shanta Kumar, said stern action would be taken against any exporter involved in illegal diversion of rice purchased from FCI for the purpose of exports to the local market.
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