A PYMNTS Company

India: JSW Steel evaluates options to appeal US fine

 |  December 1, 2015

JSW Steel is disappointed with the US court’s decision to fine them $156 million (Rs. 1040 crore) on antitrustconspiracy charges and disagrees with the conclusions drawn, the steelmaker said in a regulatory filing on Tuesday on BSE.

The Sajjan Jindal-led JSW Steel said it is analysing the judgement in detail and evaluating all options available to defend its position under the applicable laws.

A distributor in the US, MM Steel, had sued its competing distributors and steel manufacturers, including JSW Steel, in 2012, claiming that its rivals had conspired to deprive it of supplies and that the manufacturers had knowingly joined the plot, the court document showed. MM pulled the shutters down on its business in 2013.

Full content: The Economic Times

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.