New Delhi– Bhushan Steel on Sunday said a Central Bureau of Investigation court held the company’s Chairman B.B. Singal guilty under the Indian Electricity Act in the case related to Bhushan Industrial Company Ltd. of Chandigarh.
“CBI court vide order dated September 3 held B.B. Singal, chairman of the company, guilty under the Indian Electricity Act, 1910, (case related to Bhushan Industrial Co. Ltd, Chandigarh),” Bhushan Steel said in a stock exchange filing.
“On submitting the surety bond, B.B. Singal has been granted bail and sentence has been suspended for 60 days to enable him to file the appeal against the said order,” it added.
The company also said that Monica Aggarwal has been appointed as an Additional Independent Director with effect from September 3 “as recommended by Nomination and Remuneration Committee of the Board of Directors”.