Government suspends three directors of SAIL and NMDC with immediate effect
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New Delhi. The Steel Ministry has suspended two board-level officials of public sector steel company SAIL and a director of iron ore company NMDC for alleged misconduct. SAIL told the stock exchange that it has also suspended 26 other officials with immediate effect for violating the code of conduct.
The company said that the Ministry of Steel, vide its letters dated January 19, 2024, in exercise of the powers conferred by sub-rule (1) of Rule 20 of the Steel Authority of India Limited’s Conduct, Discipline and Appeal Rules, 1977, has appointed V S Chakraborty. , Director (Commercial) and A Ketulsiani, Director (Finance) have been suspended with immediate effect.
NMDC, another steel ministry undertaking, also said its board-level officer V Suresh has been suspended with immediate effect. The Steel Ministry has suspended V Suresh, Director (Commercial), NMDC Limited, with immediate effect, the company said. The cell said in a separate statement that the matter pertains to some investigations being conducted as per the directions of the Lokpal. SAIL Chairman Amarendu Prakash said, the company’s business is running normally and it is not going to have any impact on the company’s performance. We are dedicated to maintaining the highest standards of corporate governance and ethical conduct. SAIL continues to be in a strong position.
Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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