JSW group companies say FIR against Sajjan Jindal has no impact – Times of India

JSW group companies say FIR against Sajjan Jindal has no impact - Times of India

Mumbai: JSW GroupFour listed companies have said. Stock exchanges That Allegations of rape Against the Chairman Sajjan Jindal “No material effect” on their operations.
JSW SteelJSW Energy, JSW Infrastructure and JSW Holdings made the remarks in response to a stock exchange query seeking clarification on reports that an FIR against Jindal in Mumbai alleging rape has been entered.
Shares of the four companies fell as much as 5 percent on Monday, a day after Jindal called the allegations “false and baseless”. Stocks pared most of the losses from the early dip with modest gains in JSW Energy and JSW Infras.
SEBI rules require a listed company to make disclosures to the stock exchange about the occurrence of an event based on its material impact on the company. In some cases, whether the information is material is left to the discretion of the company’s board, securities lawyers said. He further said that the FIR registered against the board member of the company is not considered as material information. However, as per SEBI rules, there is arrest of a key management person, promoter or director.

Business news,Stock exchanges,Sajjan Jindal,Allegations of rape,JSW Steel,JSW Group
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