Steel businessman Lakshmi Mittal’s brother arrested in Bosnia

Steel businessman Lakshmi Mittal’s brother arrested in Bosnia

Agency News

Sarajevo, 24 July, 2019: Steel magnate Lakshmi Mittal’s younger brother, Pramod Mittal, was taken into custody in Bosnia on Wednesday.

The arrest was due to suspected fraud and "abuse of power", according to a prosecutor. The case is related to the running of a coking plant in the northeastern town of Lukavac, which Pramod Mittal has co-managed since 2003. It has 1,000 employees.

"Police, who acted upon the order of the prosecutor, arrested the president of the supervisory board of GIKIL, Pramod Mittal," prosecutor Cazim Serhatlic told reporters. GIKIL was founded in 2003 and is co-managed by Pramod Mittal's Global Steel Holdings and a local public company (KHK).

Two other company officials -- general manager Paramesh Bhattacharyya and another member of the supervisory board -- were also arrested. They are suspected of "organised crime, notably the abuse of power and economic crimes," the prosecutor said.

An arrest warrant has been issued for a fourth man "considered to be a member of this organised criminal group with Pramod Mittal on top". The suspects will appear before a judge on Wednesday.

According to legal experts, if found guilty the suspects could get jail sentences of up to 45 years. (UNI)