SAIL suspends two directors at direction of anti-graft ombudsman

State-owned Steel Authority of India (SAIL) has suspended two board directors at the direction of the anti-graft ombudsman, the company said in a statement on Saturday. "It is hereby informed that Ministry of Steel...in the exercise of the powers conferred by sub-rule (1) of Rule 20 of the Conduct, Discipline, and Appeal Rules, 1977 of Steel Authority of India Limited, has placed Shri V.S. Chakravarthy, Director (Commercial) and Shri A.K. Tulsiani, Director (Finance) on suspension with immediate effect," the company said in an exchange filing.

Besides this, the company has placed some other below-board-level officials under suspension. Among those are SK Sharma, ED (F&A), CMC; Vinod Gupta, ED (Commercial); Atul Mathur, ED (Sales & ITD) and RM Suresh, ED (Marketing Services).

The suspension will not affect the company's performance, Chairman Amarendu Prakash said in a statement. "Business is being carried out as usual. We are dedicated to uphold the highest standards of corporate governance and ethical conduct," he said.

(With inputs from Reuters)