Shares of Jindal Steel and Power were down over 6% at Rs 139 after the Central Bureau of Investigation (CBI) has registered a case for alleged cheating and criminal conspiracy related to one of its largest functional coal mines in Chhattisgarh.
The investigative agency lodged a First Information Report (FIR) against JSPL and unknown public servants for illegal mining beyond the approved area and excess coal mining, along with other charges in the Gare Palma IV/1 block, allocated to JSPL in June 1996 for production of sponge iron.
The case is based on a preliminary investigation (PE) registered by the CBI in September last year, looking into the allocations of coal blocks during 1993-2005.
The stock opened at Rs 141 and touched a low of Rs 136. Over 200,000 shares were traded on both the exchanges so far.
