This is the unpleasant surprise Shiv Mahashaktishali Steels Ltd received in a shipment of scrap metal, which was intended for them from Mauritius.
The Mauritian branch was then immediately informed of this blatant scam. Therefore a complaint was recorded in police station Mapu October 16. According to the leaders of the company, they had four containers stored in one of their suppliers in Goodlands to be filled with used iron and other scrap iron. The supplier was paid in relation to the weight of different containers.
Employees of the Mauritian branch of Shiv Mahashaktishali Steels took care to check loads of scrap metal before boarding the four containers. They were satisfied that the containers were loaded with scrap iron worth Rs 4 million. The account was there, said a senior official of the company that was responsible for the audit.
The containers were then sealed to be shipped on cargo ships. Two to the port of Busan in South Korea and two in Dubai.
According to the proponents of Shiv Mahashaktishali Steels is at this point that the fraud had been committed. The crafty would have the opportunity to remove the old scrap and replace them with stones. They would later sell the cargo is stolen scrap in the local market, developers complain Shiv Mahashaktishali Steels.
This fraud is a blow to proponents Shiv Mahashaktishali Steels which has just embarking on the production of metal in Mauritius, said a staff Mauritius. The spokesman for the plant said that Indian investors have already invested Rs 140 million to start its metal production in Mauritius.
For its part, the police have not yet made arrests in connection with this investigation. However some people were interviewed.
Shiv Mahashaktishali Steels, which has a production unit in La Tour Koenig, Pointe-aux-Sables, in producing and selling the iron bars at a price unbeatable by February 2014. The company expects to hire as many as 50 Mauritian workers. The total project cost is estimated at Rs 300 million. Initially, annual production is expected to be around 8640 tonnes, 30 tonnes per day.