JSW Steel has paid about Rs 2.79 lakh that was levied as penalty by the Reserve Bank of India (RBI) on JSW Ispat Special Products (JISPL). The penalty levied by the RBI vide its order dated November 22, 2023 on the erstwhile JISPL in response to a compounding application made by it for delayed filing of Form FC-GPR under Regulation 13.1(2) of FEMA Regulations 2017, in relation to issue of shares to a person resident outside India, was paid and discharged by JSW Steel.
JSW Steel is one of the largest steel manufacturing companies in India having units in Karnataka and Maharashtra producing crude steel, long steel and flat steel products.
