Sesa Goa slips six pc on BSE

MUMBAI: Mining company, Sesa Goa today declined nearly six per cent on the Bombay Stock Exchange, after the company said it has received a letter from the Government of India on Thursday ordering an investigation into the company.

Vedanta Group firm Sesa Goa slipped 5.95 per cent to a low of Rs 278.15 on the BSE. It was later quoting at Rs 290.25 down 1.86 per cent on the BSE at 1137 hrs.

On the National Stock Exchange, the stock dipped to Rs 276, down 6.63 per cent. It was later trading at Rs 290, down 1.89 per cent at 1127 hrs.

In early morning trade a total of 76,04,667 shares of Sesa Goa changed hands on both the bourses.

SFIO, the investigative wing of the Corporate Affairs Ministry, would probe into the alleged irregularities in the book of accounts of Sesa Goa.

The investigation is scheduled to be completed within six months from the date of the order -- October 23, 2009.

Yesterday, Corporate Affairs Minister Salman Khurshid said any action, if warranted, would be taken against mining major Sesa Goa only after the detailed examination of its financial accounts.