Serious frauds office in UK to probe Tata Steel
London: Britain has launched a criminal inquiry into the workings of Indian giant Tata Steel, which is seeking to sell its loss-making UK businesses, according to a media report here yesterday.
Tata Steel is believed to have referred itself to the fraud office after an internal inquiry. File pic
According to ‘The Daily Telegraph’, police officers are examining allegations that staff working for the company’s office in Britain may have falsified certificates detailing the composition of its product before sale. Tata Steel is believed to have referred itself to the Serious Fraud Office (SFO) after an internal inquiry at its Yorkshire site in northern England.
The SFO said it was “declining to comment” on the matter at this stage. Tata Steel has also not commented on what they have termed as “media speculation” so far. The newspaper quoted “well-placed sources” saying that the documents being examined affected 500 customers, including global giants like BAE and Rolls-Royce.