Staff Reporter :
Customs Intelligence and Investigation Directorate (CIID) on Thursday filed a case against Escort Footwear Ltd on charge of misusing bond facility for Tk 50 lakh.
After thorough investigation, the CIID sued the factory on charge of customs hoax and misuse of bond facility.
Escort Footwear Ltd, a footwear manufacturer located at Hazaribagh in the city imported raw materials using bond facility like insole, hardener, rivet and outsole for exporting purpose
after manufacturing finished footwear products.
But the company traded those raw materials in the local markets of the country and thereby defrauded an amount of Tk 50,12,974.
The bond licensed factories can import customs free raw materials which must have to be exported after manufacturing. The government provides such facility to flourish export oriented factories of the country.
But some illegal business people of the country are misusing such facility to deprive government of revenue. CIID, however, is keen to prevent such misuse with their continuous drive in the country.
Customs Intelligence and Investigation Directorate (CIID) on Thursday filed a case against Escort Footwear Ltd on charge of misusing bond facility for Tk 50 lakh.
After thorough investigation, the CIID sued the factory on charge of customs hoax and misuse of bond facility.
Escort Footwear Ltd, a footwear manufacturer located at Hazaribagh in the city imported raw materials using bond facility like insole, hardener, rivet and outsole for exporting purpose
after manufacturing finished footwear products.
But the company traded those raw materials in the local markets of the country and thereby defrauded an amount of Tk 50,12,974.
The bond licensed factories can import customs free raw materials which must have to be exported after manufacturing. The government provides such facility to flourish export oriented factories of the country.
But some illegal business people of the country are misusing such facility to deprive government of revenue. CIID, however, is keen to prevent such misuse with their continuous drive in the country.
