Bhushan Steel Chairman B B Singal held guilty by CBI Court

NEW DELHI: Bhushan Steel today said the CBI Court has held the company's Chairman B B Singal guilty under the Indian Electricity Act in the case related to Bhushan Industrial Co. Ltd, Chandigarh.

However, Singal was granted bail on submitting the surety bond and the sentence has been suspended for 60 days to enable him to file the appeal against the said Order.

"CBI Court vide Order dated September 3, 2016 held Mr B B Singal, Chairman of the Company guilty under the Indian Electricity Act, 1910 (case related to Bhushan Industrial Co. Ltd, Chandigarh).

"On submitting the surety bond, Mr B B Singal has been granted bail and sentence has been suspended for 60 days to enable him to file the appeal against the said Order," Bhushan Steel said in a regulatory filing.

Besides, the company Monica Aggarwal has been appointed as an Additional Independent Director with effect from September 3 as recommended by Nomination and Remuneration Committee of Board of Directors.