JSW rejects ‘criminal conspiracy’ claims

Oct 17, 2012 | 12:30 PM | Suresh Nair

Tags  JSW Steel, criminal conspiracy, Central Bureau of Investigation, Sajjan Jindal, B.S. Yeddyurappa, Suresh Nair

MUMBAI, India — JSW Steel Ltd. has rejected claims that some of its senior executives were part of a criminal conspiracy involving inflated land purchases, bribery and donations to relatives of the former chief minister of India’s southern state of Karnataka.

The country’s Central Bureau of Investigation (CBI) on Tuesday named company chairman Sajjan Jindal and chief executive officer Vinod Nowal, among others, in a case related to alleged illegal iron ore mining in Karnataka.

India’s Supreme Court-appointed Central Empowered Committee earlier this year asked the CBI to investigate alleged bribery by the company (amm.com, April 23).....

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