Sesa Goa defends itself against the Lokayukta report

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Sesa Goa defends against Lokayukta report
In a reply to the charges placed by the Karnataka lokayukta report, Sesa Goa has filed its response on the Bombay Stock Exchange to allay the fears of the investing community.

Sesa Goa said that the company's name has come on three occasions in the report. The responses are as following.

On the allegation that the company (Sesa Goa) exported 60,500 tonnes and 15,000 tonnes through two different vessels post the export ban. Sesa Goa says, "The name sof the vessels mentioned in the report are not correct." It said that the quantity referred to are from the shipping bill which states the loadable quantity of the ship, against the actual quantity loaded was 45,500 tonnes. The short shipment was duly recorded at 15,000 tonnes by the customs. This quantity, 45,500 tonnes, was from Sesa Goa Mines and it was processed at its EOU (Export Oriented Unit) plant. "

It further added, "The shortfall was bought by Sesa Goa from another exporter after verifying the documents and then a new shipping bill dated August 13, 2010 was made and then the quantity was loaded onto the ship."

Then the second place where Sesa Goa is mentioned is related tot he writ petition against the Union of India contesting an allotment of a mining lease to some other miner, which it believed should have been allotted to Sesa Goa on merit.

The final mention of the company is where the list of companies, suppliers and the stacks whose material is lying in Beliketi port. The list is for all ore lying in Belikeri port, since Sesa Goa's ore is also lying there which have been transported from Sesa Goa's mines. The stock is lying intact, and has been reconciled against all valid transport documents duly verified by the authorities.

To come out clean the company also said that it is ready to cooperate with the government and clarify the issues.

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Read more about: bse, nse, sesa goa, scam, mining
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