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.
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.”
