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    500470   INE081A01012

TATA STEEL LIMITED

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Tata Steel : UK Serious Fraud Office closes Speciality Steels investigation

10/14/2021 | 09:11am EST
FILE PHOTO: A sign is displayed in an unmarked Serious Fraud Office vehicle parked outside a building, in Mayfair, central London

LONDON, Oct 14 (Reuters) - The UK Serious Fraud Office (SFO) has closed a five-year criminal investigation into Speciality Steels, a company owned by Indian-British steel magnate Sanjeev Gupta's GFG Alliance, without bringing any charges.

The agency said the investigation had not met its test of both providing sufficient evidence for a realistic prospect of conviction and being in the public interest - and that all those connected with the inquiry had been informed.

"There is a high bar for the SFO to charge individuals or companies with a criminal offence and we will close cases where it is not in the public interest for us to continue with our investigation," a SFO representative said on Thursday.

The investigation is separate from the SFO's fraud, fraudulent trading and money laundering inquiry into the financing and conduct of companies within the Gupta Family Group Alliance (GFG) - including its financing arrangements with Greensill Capital - which was launched in May.

The investigation into Speciality Steels dated back to when it was owned by Tata Steel UK Ltd.

(Reporting by Kirstin Ridley; Editing by Kirsten Donovan)


ę Reuters 2021
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Financials
Sales 2022 2 188 B 29 174 M 29 174 M
Net income 2022 372 B 4 957 M 4 957 M
Net Debt 2022 554 B 7 388 M 7 388 M
P/E ratio 2022 3,67x
Yield 2022 1,92%
Capitalization 1 359 B 18 111 M 18 123 M
EV / Sales 2022 0,87x
EV / Sales 2023 0,89x
Nbr of Employees 65 000
Free-Float 63,9%
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Tata Steel Limited Technical Analysis Chart | 500470 | INE081A01012 | MarketScreener
Technical analysis trends TATA STEEL LIMITED
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Mean consensus BUY
Number of Analysts 30
Last Close Price 1 112,25 INR
Average target price 1 717,00 INR
Spread / Average Target 54,4%
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Managers and Directors
Thachat Viswanath Narendran Chief Executive Officer, Executive Director & MD
Koushik Chatterjee Chief Financial Officer & Executive Director
Natarajan Chandrasekaran Chairman
Vinay V. Mahashabde Chief Research & Development, Technology Officer
Jayanta Banerjee Chief Information Officer
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