The Supreme Court (SC) on May 11 has ordered for CBI probe into the alleged massive illegal mining activities in Karnataka and the roles of former Karnataka chief minister BS Yeddyurappa and two companies JSW Steel and Adani Enterprises, in the scandal. The top court's order dashes the senior BJP leader's hope of returning to power in Karnataka, besides embarrassing the BJP which has been attacking the UPA government over corruption.
A court-appointed central empowered committee on environmental matters in April had recommended the SC to direct the CBI probe into linkages between the donation of Rs 10 crore made by South West Mining, a JSW Group associate, to Prerana Education Society set up by the close relatives of Yeddyurappa, and alleged receipt of illegal mineral ore by JSW Steel and the alleged favours shown to it in respect of Mysore Minerals.
The panel had also recommended that the land purchased by the former chief minister of Karnataka BS Yeddyruppa's family for Rs 0.4 crore in 2006 and sold to South West Mining for Rs 20 crore in 2010 be looked into by the investigating agency.
However, country's third largest steel producer, JSW Steel, justifying its stand, stated that the company follows highest corporate governance and has not anything wrong. It has further stated that, its books remain operate, while the company remains ready to cooperate with the investigating agencies.
| Company Name | CMP |
|---|---|
| Tata Steel | 212.05 |
| JSW Steel | 1239.90 |
| SAIL | 173.50 |
| Jindal Stainless | 787.90 |
| APL Apollo Tubes | 2105.45 |
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