Indian BS has no bound, here is living example of indian fraud. India sign treaty and don't fulfill its obligation. India use transit and then use force to say it was for free. Indian govt and companies had fraud ingrained in their practice. That is just in Bangladesh. Don't get me started what indian companies did elsewhere. India and indian companies has ZERO credibility.
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Fraud by Indian Co - 22 garment exporters not getting payment
. Kazi Zahidul Hasan
The export of garments from Bangladesh to India has been facing setback following withholding of payment by the India buyers.
Sources said some 22 local exporters have consigned garments worth of millions of dollar to an Indian buyers following proper export procedure, but they are yet to receive payment.
"Recently several garments manufacturers have exported their products to an Indian company but the exporters have not received their payments from the buyer," Md Siddiqur Rahman, Vice-President of BGMEA told The New Nation on Wednesday.
Value of exported goods was $5.0million and the goods were duly exported to the Indian buyer, he added. The name of the India buyer is Lilliput Kids wear Ltd located at Okhla Industrial Area Phase-1, New Delhi.
The 22 unlucky exporters are Mazkan Jeans Ltd, Vertex Apparels Ltd, Barat Sweater Ltd, Gemini Garments Ltd,A Plus Sweater, Sinha Fabrics Ltd, Anupam Fashions Ltd, Panshi Knit, Kent Fashion, Annesha Style Ltd, Hypoid Lingeries Ltd, Defo in Design Ltd, New Generation Fashion, Uttaran Woven and Knit Ltd, DNS Sweater, Ayesha Enterprise,IP Jack Knitting, T-Mart Computerized Sweater, Hallmark Design wear, Apparel Concept, Alif Garments and ND Apparels.
"These exporters are as per ICC Publication 600 are likely to be categorized as bank defaulters and they will not able to pay workers wage only because of non-payment of Lilliput Kidswear," feared Rahman.
Non-payment of salaries and wages may flare up labour agitation in these garment units, he further said.
The BGMEA leader also said that BGMEA has been trying and discuss with different concerned agencies for solution and sought the central bank's help in this regard.
"We have already requested authorities of Bangladesh Bank (BB) for issuance of letter to the lien banks of22 victim exporters requesting to be flexible in banking transaction for their survival and business purpose until the problem is resolved," he noted.
Earlier, Indian government has given duty-free access of Bangladeshi garments to its country as a gesture of better bilateral relations between the two countries.
The facility, however, encouraged the local garment exporters and they started exploring Indian market with much enthusiasm.
When asked Rahman said it is an isolated incident and we believe this particular occurrence will not hamper Indo-Bangla trade relations.
A victim exporter seeking anonymity said that they have exported the goods having solid deals with the Indian company and seven local agents of the company have negotiated the whole things of the export.
"There are three groups of exporters who have deprived from the payments, he said adding that one group has sold goods but not received payment, another group manufactured goods but importers denied to take delivery and last one halted production due to non-payment of other parties," he added.
He said those who sent garments to the Indian company received by the freight forwarder but it cleared the goods without submitting proper documents to the concerned banks.
Fraud by Indian Co 22 garment exporters not getting payment - The New Nation (Dhaka, India) | HighBeam Research
http://thenewnationbd.com/newsdetails.aspx?newsid=33281
i am entering Bangladesh lol this is kool
