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Lokpal s order disclose allegations levelled against SAIL s chairman and executive director (Sales and ITD) for relaxing prices causing losses to the state-owned steel entity. Its dealings with Venkatesh Infra Projects and Avon Steel Industries will be probed by CBI. ....
Steel Authority of India Limited (SAIL) has suspended two directors and multiple executive director level officers due to the ongoing Lokpal probe. S K Sharma, Executive Director (ED) F&A, CMO, Vinod Gupta, ED (Commercial), Atul Mathur, ED (Sales & ITD), and R M Suresh, ED (Marketing Services) are among those suspended. ....
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. ....