Ashapura Minechem Limited — Others, 27-10-2024: Action(s) taken or orders passed

Ashapura Minechem Ltd. and its chairman have been found guilty by a Bengaluru court in a case related to iron ore exports, involving sections 120-B, 420, and 379 of the IPC. The court imposed individual fines of Rs. 20,000 and a joint fine of Rs. 9.06 crores, with possible imprisonment of up to 7 years. The company plans to appeal the verdict, maintaining that it will not impact operations or financials.