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Policy & Regulation
Essar stocks tumble after CBI’s third chargesheet
TT Correspondent |  |  13 Dec 2011

Stocks of Essar group companies-Essar Oil , Essar Portsand Essar Shipping have further tumbled 2-5% on Tuesday in 2G aftermath. The stocks of these companies fell 9-11%. The CBI on Monday named some of Essar officials in its third chargesheet.

 

These investors are a bit jittery after CBI probing the 2G spectrum allocation case fearing that the probe may result in the erosion of the Essar stocks.

 

The CBI had earlier charged and arrested DB Realty promoter and senior Reliance

 

Essar Oil is down near 34% in the last three-months alone.

 

The CBI on Monday filed its third chargesheet named Essar Promoter-Director Anshuman Ruia, Vice-Chairman Ravi Ruia, President for Strategy and Planning Vikas Saraf among others, and charged then under Indian Penal Code Sections 420 and 120b which deals with cheating and criminal conspiracy.

    
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13 Dec 2011(IST)  
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