Lok Sabha Question No. 849 (UNSTARRED), answered on 2019-02-07
Subject: Details regarding Transactions by HHEC
Ministry: TEXTILES
Asked by: RAMSINH PATALYABHAI RATHWA, R. PARTHIPAN

## LOK SABHA UNSTARRED QUESTION NO. 849 TO BE ANSWERED ON 07.02.2019

## DETAILS REGARDING TRANSACTIONS BY HHEC

## 849. SHRI RAMSINH RATHWA: SHRI R. PARTHIPAN:

Will the Minister of TEXTILES वस्त्र मंरी be pleased to state:

- (a) whether several small bullion parties have followed the due process of imports of bullion as per  agreements  with  Handicrafts  and  Handlooms  Exports  Corporation  of  India  Limited (HHEC) which have been concluded in 2014;
- (b) if so, the names of such bullion parties with up-to-date payment and interest details due to them, company-wise:
- (c) whether  CBI  have  sought  some  details  of  misconduct  against  any  bullion  parties  having concluded their agreements with HHEC in the year 2014; and
- (d) if so, the reasons and the details thereof?

## उत्तर ANSWER वस्त्र राज्य मंरी ( श्री अजय टम्टा ) THE MINISTER OF STATE FOR TEXTILES (SHRI AJAY TAMTA)

- (a) & (b) :  CBI has registered a Case No. RC221/2015/E0020 dated 31.12.2015 against Shyam  Kedia,  Vice  President  of  Edelweiss  Commodities  Services  Ltd.  (ECSL),  M/s Edelweiss Commodities Limited (ECL) & unknown others and against the unknown public servants  of  HHEC.  Another  case  registered  in  CBI  vide  No.  RC219  2016  E  0007  dated 28.04.2016 is against M/s Aaryavart Commodities Pvt. Ltd. (ACPL), its Director, Shailesh J. Bhatt  and  other  representatives  and  unknown  persons.  Bullion  parties  have  followed  the process of imports as per agreements which are identical to the agreement signed between M/s Edelweiss Commodities Ltd. (ECL) and Handicrafts and Handlooms Exports Corporation of India Limited (HHEC). The case is being investigated by Central Bureau of Investigation  (CBI)  against  ECL  and  has  not  been  concluded  by  CBI.    Details  of  bullion parties whose payments are withheld are as follows:-

|   Sl.No. | Name of the Bullion Parties                                        |   Rs in Crores |
|----------|--------------------------------------------------------------------|----------------|
|        1 | M/s Edelweiss Commodities Ltd. (ECL)-under investigation with CBI. |           5.12 |
|        2 | M/s SMC Comtrade Ltd.                                              |           2.48 |

| 3.   | M/s Atma Ram Amar Nath                                                      |   1.50 |
|------|-----------------------------------------------------------------------------|--------|
| 4.   | M/s Frost International Ltd.                                                |   2.76 |
| 5.   | M/s Kothari Product ltd.                                                    |   0.23 |
| 6.   | M/s Relegare Bullion Ltd.                                                   |   0.16 |
| 7.   | M/s Soni Chunilal Govindbhai Jewellers Pvt. Ltd.                            |   0.01 |
| 8.   | M/s Delhi Spot Bullion Trading Co. Pvt. Ltd.                                |   0.03 |
| 9.   | M/s Metlloy Trading Services (P) Ltd. (case pending with Customs Authority) |   0.11 |
| 10   | MMTC Pamp India (P) Ltd                                                     |   0.05 |
|      | Total                                                                       |  12.45 |

(d): Does not arise.

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