JSW Steel Ltd.

Regulator Securities and Exchange Board of India (SEBI) has imposed a fine of Rs 2.5 lakh on JSW Steel for failing to redress an investor complaint within the prescribed time limit.

According to Sebi, one investor complaint was pending against JSW Steel as on March 25, 2015 related to non-receipt of shares after transfer. The complainant had bought physical shares of the firm off market from one Jaichand Shah who had got possession of the shares but was not the rightful owner of the scrips and had sold them to the complainant.

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.