Tata Steel BSL receives summons to appear before Special Court

On 14 October 2019

Oct 01, 2019 04:10 IST capital market

Tata Steel BSL has received a summons, issued by the Special Judge to appear before the Special Court (Additional Sessions Judge - 03, Dwarka Courts, New Delhi) on 14 October 2019, in relation to a criminal complaint filed by the Serious Fraud Investigation Office against the Company.

Further, Bhushan Energy (BEL), a subsidiary of the Company, is also named as an accused in the Complaint and has also received Summons in relation to the Complaint to appear before the Special Court on 08 November 2019.

The Complaint and Summons arises from the investigation initiated by The Ministry of Corporate Affairs, Government of India (through the SFIO), into the affairs of the Company vide its order dated 03 May 2016 relating to issues which arose prior to the acquisition of the Company by Bamnipal Steel, a wholly owned subsidiary of Tata Steel, through the Corporate Insolvency Resolution Process.

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