Tata Steel’s brand protection enforcement effort results in busting of an in-transit TMT rebar theft racket in Bihar
~Police raid apprehends an organised racket of in-transit theft of Tata Tiscon TMT rebars in Gaya~
Tata Steel takes several steps to protect its brand and products being used and sold by unauthorised entities. The Company engages with the local law enforcement authorities to keep a check on such activities.
On February 7, 2020, the sustained efforts of Tata Steel’s brand protection team resulted in apprehending a racket involved in the theft of in-transit Tata Tiscon TMT rebars in Bihar’s Gaya district. The material recovered at the Yadav Line Hotel located on the National Highway-19 (NH-19) in Gaya is approximately 2 tonnes and is valued at Rs 1.18 lakh.
Tata Steel appreciates the support and action taken by the Bihar Police in containing such an organised crime. Tata Steel will continue to monitor and act against any such illegal activities impacting its assets and brand by collaborating with the concerned law enforcement activities.
It has been observed that in most of such cases there is a common nexus between the operators of trucks and sites (such as line hotels), where such illegal activities take place. The stolen material enters the supply chain and causes confusion in the minds of consumers regarding the quality and source of the goods. It also contributes to loss to the economy in the form of uncollected taxes and feeds such an organised crime.
About Tata Steel
Tata Steel group is among the top global steel companies with an annual crude steel capacity of 33 million tonnes per annum. It is one of the world's most geographically-diversified steel producers, with operations and commercial presence across the world. The group (excluding SEA operations) recorded a consolidated turnover of US $22.67 billion in the financial year ending March 31, 2019. In 2018, Tata Steel acquired Bhushan Steel Ltd (now renamed as Tata Steel BSL Ltd).
A Great Place to Work-Certified organisation, Tata Steel Ltd., together with its subsidiaries, associates and joint ventures, is spread across five continents with an employee base of over 65,000.
Tata Steel retained the ‘Global Steel Industry Leader’ position in the DJSI 2018. The Company has been recognised as the Climate Disclosure Leader in ‘Steel category’ by CDP (2017). Besides being a member of the World Steel Climate Action Programme, Tata Steel has won several awards including the Lighthouse recognition for its Kalinganagar Plant – a first in India, Prime Minister’s Trophy for the best performing integrated steel plant for 2016-17, ‘GreenPro’ certification for products (Tata Pravesh Steel Doors, Tata Structura, Tata Pipes) by CII, Authorized Economic Operator (AEO) status (Tier 2) by the Directorate of International Customs (Ministry of Finance, Govt. of India), ‘Corporate Strategy Award’ by Mint (2018), Golden Peacock Award for Risk Management (2018) and Best Risk Management Framework & Systems Award (2019) by CNBC TV18. The Company also received the ‘Most Ethical Company’ award from Ethisphere Institute for the eight time (2019), Steel Sustainability Champion (2018) by the World Steel Association, Dun & Bradstreet Corporate Awards (2019), Golden Peacock HR Excellence Award by Institute of Directors (2018), ‘Best Companies To Work For’ recognition by Business Today, 'Asia's Best Integrated Report' award by the Asia Sustainability Reporting Awards (2017), among several others.
Last year, the Company launched a corporate brand campaign #WeAlsoMakeTomorrow..
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Statements in this press release describing the Company’s performance may be “forward looking statements” within the meaning of applicable securities laws and regulations. Actual results may differ materially from those directly or indirectly expressed, inferred or implied. Important factors that could make a difference to the Company’s operations include, among others, economic conditions affecting demand/supply and price conditions in the domestic and overseas markets in which the Company operates, changes in or due to the environment, Government regulations, laws, statutes, judicial pronouncements and/or other incidental factors.
Chief, Corporate Communications-India & SEA