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HC orders company directors' arrest in iron certificate scam
Updated On: 26 November, 2012 07:53 AM IST | | Akela
In a scam amounting to approx Rs 10 crore, directors of Hira Steel Ltd managed to bribe an official to forge 1,040 documents in order to sell inferior quality iron at a higher price to a Chinese buyer
The Bombay High Court has directed the MRA Marg police to arrest the director and some officers of the Raipur-based company Hira Steel Limited (HSL) for their alleged involvement in a fake iron ore certificate scam.
On November 23, the Bombay High Court directed the MRA Marg police to probe into the fake iron ore certificate scam and has given 72 hours to the directors of HSL before their arrest. “The honorable High Court has ordered the arrest of the directors of HSL by giving them 72 hours advance notice,” said Shivaji Phadtare, investigating officer, MRA Marg police station.
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