India-based steelmaker JSW Steel made an announcement on Monday, October 3 stating that media reports about Central Bureau of Investigation (CBI) raids on JSW Steel's Vijayanagar unit at Bellary are misleading.
Local media reports suggested that CBI searched offices at JSW Steel regarding illegal iron ore procurement. However, JSW Steel strongly denied such raids and stated that a CBI team visited the company's Vijayanagar works on Monday morning and sought certain information about procurement of iron ore.
JSW Steel also stressed that they are willing to cooperate with the authorities.