NEW DELHI, Jan 20: According to exchange filings by the businesses, the Steel Ministry has suspended one director of iron ore giant NMDC and two board-level officers of steel PSU SAIL for alleged misbehaviour. In a report to the BSE, the steel PSU stated that SAIL has also suspended 26 other personnel for violating its code of conduct, effective immediately. According to the filing, the Ministry of Steel suspended V.S. Chakravarthy, Director of Commercial, and A.K. Tulsiani, Director of Finance, with immediate effect through letters dated January 19, 2024, “in exercise of the powers conferred by sub-rule (1) of Rule 20 of the Conduct, Discipline and Appeal Rules, 1977 of Steel Authority of India Limited.”An additional Steel Ministry PSU Additionally, NMDC declared that V. Suresh, a board-level official, had been suspended effective immediately. “Ministry of Steel has placed V. Suresh, Director (Commercial), NMDC Ltd. under suspension with immediate effect in exercise of the powers granted by sub-rule 1 of Rule 20 of the Conduct, Discipline and Appeal Rules, 1978 of NMDC Ltd.,” the company stated. Additionally, SAIL announced that 26 of the company’s below-board personnel have been suspended immediately. Additionally, the business has appointed several below-board authorities, such as S.K.(Marketing Services), suspended effective immediately,” the statement read. SAIL said in a different statement that the matter concerns some investigations being conducted in compliance with Lokpal’s directives. “The company’s business is being carried out as usual and it will not impact the performance of the company,” stated SAIL Chairman Amarendu Prakash. Our commitment is to maintain the utmost levels of ethical behaviour and corporate governance. SAIL is still a powerful player in the market, putting a great emphasis on customer satisfaction and quality. The largest steel manufacturer in the nation is SAIL, which is a division of the Ministry of Steel, and the largest producer of iron ore in India is NMDC.
