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

Cemindia Projects

01/11/2018 13:58

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

Source text - https://bit.ly/2RqEpjt
Further company coverage:  ITCM.NS 

 ((Reuters.Briefs@thomsonreuters.com;))