JSW Steel denies allegations made in Lokayukta report

Steelmaker JSW Steel on Thursday denied the conclusions drawn in a report by an anti-graft watchdog against the company on procurement and transportation of iron ore in Karnataka.

Updated on: Aug 4, 2011, 13:47:38 IST

Reuters | By HT Correspondent, New Delhi

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Steelmaker JSW Steel on Thursday denied the conclusions drawn in a report by an anti-graft watchdog against the company on procurement and transportation of iron ore in Karnataka.

The steelmaker is not looking at legal recourse on the issue for now but may do so in the future, Seshagiri Rao, joint managing director and group CFO, told a press conference in New Delhi.

Karnataka's anti-graft watchdog - Lokayukta- had cited certain alleged illegal purchase of iron ore and transactions linking the company and a group firm.

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