JSPL plunges as CBI files charge sheet against Naveen Jindal

NEW DELHI: Jindal Steel & Power Ltd ended the day down 4.16% at Rs 139.55 on the BSE, after slipping over 7 per cent in intraday trade on Thursday. This, after the CBI on Wednesday charged industrialist Naveen Jindal with corruption and misrepresenting facts to secure a coal mine in Jharkhand during the UPA era.

The country's top investigating agency on Wednesday named Jindal along with nine others, including UPA-era junior coal minister Dasari Narayan Rao, former Jharkhand CM Madhu Koda and former coal secretary HC Gupta in a chargesheet filed before a special CBI court in Delhi, ET reported.

In the 54-page chargesheet, the investigating agency has said Jindal and his firm Jindal Steel & Power Ltd (JSPL) not only bribed Rao to grab the Amarkonda Murgadangal coal block in Jharkhand in 2007 but also misrepresented facts about his company, added the report.

When contacted by ET, Jindal Steel & Power Ltd said it was "shocked" by CBI's move and insisted that it had been awarded the coal block on merit."We deny all allegations made against our company and its management.

We have full faith in our judiciary and are confident to come out clean during the process," a company spokesperson said in an emailed response.