No irregularity by Sesa Goa: Sfico

In a U-turn, Serious Fraud Investigation Office (Sfio) in its latest report said mining major Sesa Goa Ltd has not indulged in any corporate impropriety with regard to allegations of over and under invoicing of exports and imports. "Percentage of commission and rates of invoicing in import of coking coal and export of iron ore for sale of iron ore by SGL were nearly at the same levels according to the prevailing market trend during the period from 2001-02 up to 2006-07," said the second report of the Sfio. In its earlier report last year, the fraud probe agency had found various irregularities and had recommended that prosecution be filed on nine counts against SGL and its management.