MY KOLKATA EDUGRAPH
ADVERTISEMENT
regular-article-logo Friday, 19 July 2024

Government suspends directors of state-owned SAIL and NMDC for alleged misconduct

SAIL has also suspended 26 other officials with immediate effect for violation of its code of conduct, the steel PSU said in a filing to the BSE

Our Special Correspondent New Delhi Published 21.01.24, 10:07 AM
Representational image

Representational image File image

The government has suspended two board-level officials of state-owned SAIL and a director of iron ore major NMDC for alleged misconduct.

SAIL has also suspended 26 other officials with immediate effect for violation of its code of conduct, the steel PSU said in a filing to the BSE.

ADVERTISEMENT

In a separate statement, SAIL said the issue pertains to some investigations being carried out according to the directions of the Lokpal.

The filing said the ministry of steel vide its letters dated January 19, “in exercise of the powers conferred by sub-rule (1) of Rule 20 of the Conduct, Discipline and Appeal Rules, 1977 of Steel Authority of India Limited, has placed V.S. Chakravarthy, director (commercial) and A.K. Tulsiani, director (finance) on suspension with immediate effect”.

NMDC announced that its board-level official, V. Suresh, has been suspended with immediate effect.

“SAIL has also placed some below-board level officials which include S.K. Sharma, ED (F&A), CMC, Vinod Gupta, ED (commercial), Atul Mathur, ED (sales & ITD) and R.M. Suresh, ED (marketing services) on suspension with immediate effect,” it said.

SAIL chairman Amarendu Prakash said: “The company’s business is being carried out as usual and the suspensions are not going to impact the performance of the company. We are dedicated to uphold the highest standards of corporate governance and ethical conduct.”

Follow us on:
ADVERTISEMENT