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Steel Ministry Suspends Top Officials at SAIL and NMDC for Alleged Misconduct

23 Jan 2024 , 03:12 PM

The Steel Ministry suspends two board-level officials of Steel Authority of India (SAIL) and one director of NMDC for alleged misconduct. SAIL also suspends 26 other officials immediately for violating its code of conduct.

The Ministry of Steel places V.S. Chakravarthy, Director (Commercial), and A.K. Tulsiani, Director (Finance) of SAIL, on suspension with immediate effect.

NMDC announces the suspension of V. Suresh, Director (Commercial), with immediate effect, as per the powers conferred by the Ministry of Steel.

SAIL suspends 26 below-board-level officials, including S.K. Sharma, Vinod Gupta, Atul Mathur, and R.M. Suresh, with immediate effect.

The suspensions are in accordance with Rule 20 of the Conduct, Discipline, and Appeal Rules of the respective companies.

The actions are taken based on investigations directed by Lokpal, as mentioned in a separate statement by SAIL.

SAIL reassures that the business is proceeding as usual, emphasizing a commitment to high standards of corporate governance and ethical conduct.

Amarendu Prakash, Chairman of SAIL, states that the company remains focused on quality and customer satisfaction amid the ongoing developments.
 

For feedback and suggestions, write to us at editorial@iifl.com

Related Tags

  • NMDC
  • Steel Ministry
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