Seven others, including two Indian and 5 Bosnians, have been charged with Pramod Mittal on charges including organized crime
Indian businessman Pramod Mittal was charged in Bosnia Thursday (January 25) with heading an organized crime group and abuse of office while he was head of the supervisory board and co-owner of a coke plant in the northeastern town of Lukavac. This was reported by the news agency Associated Press on January 26.
Mittal, the younger brother of Indian steel magnate Lakshmi N Mittal, was charged with “heading an organized crime group” that allegedly helped him siphon nearly 11 million euros ($12 million) from Global Ispat Koksna Industrija Lukavac (GIKIL). He co-owned the plant near Tuzla in northeastern Bosnia with the local government.
Other charges include illegally taking over control of the metallurgical coke producer despite failing to invest 23 million euros or more than half the amount he committed to invest in 2003 in return for the 51% stake in the company. Seven others, including two Indian and 5 Bosnian former members of the company’s management, have been charged with Mittal on charges including organized crime, corruption, and abuse of office.
Mittal and the other two Indians — GIKIL’s former general manager, Paramesh Bhattacharyya, and an ex-member of its supervisory board, Razib Dash — had been arrested in Bosnia in the summer of 2019. But they were released and left the country after agreeing to post bail of 1 million euros, in the case of Mittal, and 250,000 euros for the other two. All three remain outside Bosnia. In 2019, the cantonal court in Tuzla ordered Mittal to also deposit nearly 11 million euros for alleged damages to GIKIL.
In a statement announcing the indictment on Thursday (January 25), the court said the prosecutors had filed a request to revoke bail and order Mittal and the other Indians charged to be re-arrested and returned to jail over their repeated failure to appear for investigative hearings in Tuzla.[1]
Reference:
[1] Bosnia: Indian businessman charged with organized crime – Jan 26, 2023, The Seattle Times
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It is such a shame. Unfortunately nothing significant will happen to him.
P.K. Mittal declined to give me & my construction team promised bonus for successful commissioning of their first 6 Hi-Rolling mill in Kalmeshwar, Nagpur in 1987 – he gave written promise & went back….then it was called Nippon Denro Ispat Year 1987
They were nobody in business domain, started siphoning off monies from that very first plant of theirs in India & did the same (siphoning) in Ispat Sponge, Alibaug, Maharastra
Old habits die hard.