BEML says bank accounts not frozen for Tatra deal

MUMBAI: Shares of BEML were under pressure after reports that the Karnataka police had frozen the company’s banks accounts. The company has recently been in the news in relation with the sale of Tatra trucks to the Indian army.

However, the management clarified to ET Now that the accounts were not frozen over the Tatra deal. It provided the police the related documents and is likely to issue a formal clarification to the exchanges on frozen accounts. The accounts were frozen due to Rs 14.7 crore transactions by its trading arm, it added.

The stock was at Rs 473.65, down 7.56 percent, on the BSE. It has touched a high of Rs 511 and a low of Rs 444.90 in trade so far.