Jindal Steel says to cooperate with CBI on coal allocation case

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Jindal Steel and Power Ltd(JNSP.NS) said on Tuesday it was committed to fully cooperating with the Central Bureau of investigation (CBI), after the government agency registered a case against the company over coal block allocations.

"JSPL, as a law abiding company, is governed by a strong ethical code of conduct," said Manu Kapoor, Jindal Steel's head of external affairs. "This is an ongoing CBI investigation into coal block allocation. At this stage of investigation, JSPL is committed to fully cooperate with CBI."

The CBI is investigating alleged irregularities in the awarding of coal mining rights potentially worth billions of dollars to private companies.