Jaiprakash Associates fell more than 6% and touched the monthly low of Rs66.40 on the BSE, on reports that the Himachal Pradesh High Court’s (HC) green bench imposed a penalty of Rs100 crore on the company.
Himachal Pradesh High Court’s green bench imposed a penalty of Rs 100 crore for violating the law and fraudulently setting up a cement plant and a thermal power plant, reports said
“A division bench of Justices Deepak Gupta and Sanjay Karol passed the landmark judgment May 4 ordering payment of Rs.100 crore as damages for having set up a cement plant by adopting fraudulent means and ordered the company to dismantle the 62 MW captive thermal plants within three months that is being constructed in the same premises” the report suggests.
A combined 350,000 shares have changed hands on the counter on opening deals on both the exchanges.
....more info
Himachal Pradesh High Court’s green bench imposed a penalty of Rs 100 crore for violating the law and fraudulently setting up a cement plant and a thermal power plant, reports said
“A division bench of Justices Deepak Gupta and Sanjay Karol passed the landmark judgment May 4 ordering payment of Rs.100 crore as damages for having set up a cement plant by adopting fraudulent means and ordered the company to dismantle the 62 MW captive thermal plants within three months that is being constructed in the same premises” the report suggests.
A combined 350,000 shares have changed hands on the counter on opening deals on both the exchanges.
....more info