Economic Offences
In order to prevent unethical trade practices like hoarding and black-marketing etc., the Prevention of Black-marketing of Supplies of Essential Commodities, Act, 1980 is being implemented by the State Governments to detain persons whose activities are found to be prejudicial to the maintenance of supplies of commodities essential to the community. Our firm has more than 25 years of experience in this Act and our Senior Partner Ms Geetha Ramachandran is an expert in this Act.
The items declared as essential commodities under the Essential Commodities Act, 1955 are reviewed from time to time in the light of liberalized economic policies in consultation with the Ministries/Departments administering the essential commodities. At present the list of essential commodities contains 15 items.
- Cattle fodder, including oilcakes and other concentrates.
- Coal, including coke and other derivatives.
- Component parts and accessories of automobiles.
- Cotton and woollen textiles.
- Foodstuffs, including edible oilseeds and oils.
- Iron and Steel, including manufactured products of Iron & Steel.
- Paper, including newsprint, paperboard and strawboard.
- Petroleum and Petroleum products.
- Raw Cotton, either ginned or un-ginned and cotton seed.
- Raw Jute.
- Jute textiles.
- Fertilizer, whether inorganic, organic or mixed.
- Yarn made wholly from cotton.
- (i) seeds of food crops and seeds of fruits and vegetables
(ii) seeds of cattle fodder and
(iii) jute seeds