JSW Group shares decline amidst rape allegations against Chairman Sajjan Jindal
first information report (FIR) was filed against Chairman Sajjan Jindal by a Mumbai woman, accusing him of rape. However, the chairman of the steel-to-power conglomerate has denied the allegations. "Mr Sajjan Jindal denies these false and baseless allegations.
He is committed to providing full cooperation throughout the investigation. As the investigation is ongoing, we will refrain from commenting further at this stage. We kindly request you to respect the privacy of the family," a statement read.
Shares of JSW Steel shed as much as 3.6 percent to their day's low of ₹836 apiece. Meanwhile, JSW Holdings also lost 3.6 percent to its day's low of ₹4,965.05 apiece. JSW Energy also declined 4.5 percent to its intra-day low of ₹414.75 apiece.
However, it later recovered to turn flat but in the green. However, JSW Ispat Special Products advanced 3 percent in today's deals. The JSW Group chairman has been booked by the Mumbai Police under IPC 376 (rape), IPC 354 (assault or criminal force to woman with intent to outrage her modesty), and IPC 503 (criminal intimation).
As per the FIR, the rape incident allegedly took place in January 2022 at Jindal's Mumbai office, when Jindal allegedly asked the woman to come to his office in the BKC area. The woman in her complaint claimed that she went there at around 7 pm and later Jindal allegedly raped her in the penthouse of the building. She also claimed that the BKC police did not pay any heed to her FIR filed in February this year and that she was forced to approach the Bombay High Court later.
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