BRIEF-ITD Cementation India Says Unauthorised Practices On Scrap Disposal Led To Loss Of About INR 36.5 Mln

  • Reuters
  • Stock Market News
BRIEF-ITD Cementation India Says Unauthorised Practices On Scrap Disposal Led To Loss Of About INR 36.5 Mln
Credit: © Reuters.

Nov 1 (Reuters) - ITD Cementation India Ltd ITCM.NS :

* SAYS COMPANY RECEIVED A COMPLAINT REGARDING ALLEGED IRREGULARITIES IN DISPOSAL OF SCRAP

* ITD CEMENTATION INDIA -BASED ON FINDINGS SOME EMPLOYEES WERE FOUND TO HAVE ENGAGED IN UNAUTHORISED ACTIVITIES DETRIMENTAL TO INTEREST OF CO

* ITD CEMENTATION INDIA - UNAUTHORISED PRACTICES IN RELATION TO DISPOSAL OF SCRAP OVER LAST 3 YEARS

* SAYS UNAUTHORISED PRACTICE RESULTED IN LOSS TO COMPANY OF ABOUT 36.5 MILLION RUPEES

* ITD CEMENTATION INDIA -WILL TAKE ACTION AGAINST THESE EMPLOYEES, INCLUDING TERMINATION OF THEIR EMPLOYMENT AS DIRECTED BY AUDIT COMMITTEE

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