GAIL India Ltd updates on CBI action against Director

GAIL India Ltd has announced that Central Bureau of Investigation has registered a FIR against Shri E S Ranganathan, Director (Marketing) of the Company and other private persons on charges of criminal conspiracy, demand and obtaining undue advantage by public servant, taking undue advantage to influence public servant, bribing public servant etc. (Source: CBI website).

Further, Central Bureau of Investigation searched at the premise(s) of Shri E S Ranganathan, Director (Marketing) of the Company and other private persons in connection with the said case.

As per media reports Shri E S Ranganathan, Director (Marketing) of the Company has also been arrested in connection with the said case.

The company is not aware of any information other than those published or reported in the media.

At this stage no estimated financial impact or estimated amount can be ascertained.

Shares of GAIL (India) Limited was last trading in BSE at Rs. 144.15 as compared to the previous close of Rs. 144.95. The total number of shares traded during the day was 400703 in over 6386 trades.

The stock hit an intraday high of Rs. 145.60 and intraday low of 143.15. The net turnover during the day was Rs. 57886372.00.

Source : Equity Bulls

Keywords

GAILIndia INE129A01019 CBI FIR Director