An employee grinds a steel beam at the rolling and universal beam unit of the Jindal Steel & Power Ltd. plant in Raigarh, Chhattisgargh. (Photographer: Udit Kulshrestha/Bloomberg)

JSPL Sees No Financial Implications Of Coal Block Allocation Case

Jindal Steel & Power Ltd. doesn’t expect any financial implication arising out of the coal block allocation case, in the wake of a special court ordering framing of an additional charge against its Chairman Naveen Jindal.

The coal blocks in question had been de-commissioned by a court order in 2014, JSPL Chief Executive Officer NA Ansari told BloombergQuint. “We have not made any use of the coal at all. So there shouldn’t be any financial implication,” he said.

On July 13, a special court ordered framing of an additional charge of abetment of bribery against Jindal and others in a case pertaining to irregularities in the allocation of Amarkonda Murgadangal coal block in Jharkhand.

We don’t think we have done anything wrong at all. We have simply followed all the procedures that were there.
NA Ansari, CEO, JSPL

Watch the full interview here:

Also read: Special Court Orders Framing Of Additional Charge Against Naveen Jindal