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Court Proceeds on SFIO Charge Sheet in Bhushan Steel Case

Steel News - Published on Tue, 20 Aug 2019

Image Source: Punjab Kesari
Economic Times reported that New Delhi court has taken cognizance of the charge sheet filed by the SFIO against 287 individuals and entities in the Bhushan Steel Ltd case. The next step involves framing of charges before the trial starts in what is likely to be a historical legal battle, given the voluminous charge sheet and the number of accused. The court divided the list of accused people into 11 batches for administrative convenience. Special judge Neelam Singh observed “It would be appropriate if accused persons are divided in a lot and summons are issued to them for different dates.”

With the chargesheet running into over 70.000 pages, the court ordered that soft copies be supplied to those accused. According to order “Since record is bulky, only copy of complaint be sent along with the summons. Soft copy of rest of the documents be supplied to the accused persons after their appearance in the court.”

The charge sheet cites fund diversion of INR 45,818 crore, wrongful loss to banks and financial institutions of INR 20,879 crore and wrongful gains by the company’s ex-promoters of INR 3,500 crore.

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Posted By : Sanju Moirangthem on Tue, 20 Aug 2019
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