JSW Steel says it got no favour from K'taka govt

JSW Steel says it got no favour from K'taka govt

Sajjan Jindal-owned JSW Steel today said the company never received any favour from the Karnataka government, and on the contrary, the state government has failed to fulfil its commitment.

"Though company is aggrieved, its image is being maligned as the Government of Karnataka is failing to place the facts before the public/ authorities that no favours were extended to the company," JSW Steel said in a statement.

The CBI earlier this week had filed a charge-sheet against former Karnataka chief minister B S Yeddyurappa for allegedly granting undue favours to steel firms, including JSW Steel, in return for donations to a charitable trust run by his kin and thereby causing a loss of Rs 890 crore to the exchequer.

In the charge-sheet, the agency had named JSW Steel represented by Sajjan Jindal, its CEO Vinod Nowal and Senior Vice President Vikash Sharma, Yeddyurappa, his sons B Y Vijayendra and B Y Raghavendra, his son-in-law R N Sohan Kumar, among others, as accused.

JSW Steel said, "While the company and its officials are yet to be served with a copy of the charge sheet, the media coverage on this issue is absolutely misleading causing irreversible loss/ harm to the reputation of the company."

"The company wishes to notify to all its stakeholders that the allegations are without any basis as till date MML (Mysore Minerals Limited) or any other authority including Karnataka Lokayukta have never demanded or made allegation against the company regarding alleged loss amounting to Rs 890 crore," the statement added.

On the contrary, the company has filed a law suit against MML for recovery of principal claim of Rs 216 crore illegally recovered from the company, JSW Steel said