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JSPL rejects charges of not disclosing info on Oz mines

JSPL rejects charges of not disclosing info on Oz mines

New Delhi: Jindal Steel and Power Ltd (JSPL) Tuesday refuted allegations of not reporting to the investors issues related to its mines in Australia and termed the charges as "false facts".

"Arun Kumar Jagatramka erstwhile promoter of Gujarat NRE Coke Ltd, has made an extremely shallow attempt by writing a flimsy defamatory piece and the allegations made are incorrect and frivolous in its entirety and hence not to be believed," JSPL said in a BSE filing.

The company further informed the exchange that it is already into litigation with GNCL and it is saddening to see that Jagatramka is resorting to insinuate the public

at large with false fact and accusations in response to the litigations.

The company said this is in response to a clarification sought from the exchange with reference to a media report, 'JSPL not disclosing closure of Australian mines to investors: Gujarat NRE ex-promoter to SEBI'.

According to media reports, Jagatramka in a letter to the Securities and Exchange Board of India (Sebi) has accused JSPL of not reporting to the investors issues related to its mines in Australia.

In its clarification, JSPL further said "JSPL understands its responsibility and accountability that comes with it and always abide by all regulations/ laws, and as a law abiding corporate, the company has never concealed anything and have kept all the stake holders timely informed about all developments/changes that have happened so far".

Agencies

Agencies

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