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Essar clarifies on RS discussion

Our Bureau

NEW DELHI: The Essar group has clarified that it has always complied with the relevant laws, regulations and rule of the land.

Reacting to today's discussion in the Rajya Sabha about the group, the company, in a release, said that all allegations such as diversion of funds, write-off the loans by FIs, double financing of the projects, misutilisation of public issue proceeds and other statutory compliances have been investigated by the Government agencies and found not substantiated.

With the confirmation of the Government on the floor of the House that it stands by the findings of the Department of Company Affairs, the company hopes all controversies raised by vested interests will be put to rest, the release said.

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