Other States

ED seizes assets for faking SAIL trademark

The Enforcement Directorate has attached properties worth Rs. 7 crore under the Prevention of Money Laundering Act in connection a case of trademarks violation against two Chhattisgarh-based companies.

The attached properties include five flats, a plot and two office premises besides some vehicles. The Chhattisgarh Police had earlier in April 2013 registered a case on the basis of a complaint by the Steel Authority of India (SAIL) alleging that two Raipur-based companies manufacturing TMT bars had been using its trademark without authorisation.

A separate probe was also initiated by the Enforcement Directorate, during which the agency found that the products were sold by one of the accused companies at inflated rates. Further investigations led to identification of properties, which according to the agency, came under the definition of the “proceeds of crime” and therefore, have been attached provisionally.

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Printable version | May 18, 2022 10:32:49 pm | https://www.thehindu.com/news/national/other-states/ed-seizes-assets-for-faking-sail-trademark/article5845003.ece