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Ministry of Steel Suspends SAIL Directors amidst investigation

In a significant development, the Ministry of Steel, Government of India, through letters dated January 19, 2024, has taken decisive action by suspending  executives of Steel Authority of India Limited (SAIL). V.S. Chakravarthy, Director (Commercial), and  A.K. Tulsiani, Director ....

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SAIL directors suspended after Lokpal concludes discrepancies in commercial deals, ET Auto

SAIL Directors Suspended: SAIL also placed 26 Below Board Level officials on suspension. SAIL is under investigation for its dealings with Venkatesh Infra Projects and Avon Steel Industries. The Central Bureau of Investigation (CBI) has been directed to probe these dealings. The Lokpal has also instructed SAIL to formulate a clear and unambiguous policy regarding Memorandum of Understanding (MoU) pricing and relaxation. ....

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