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Bosnian court grants bail to Pramod Mittal, 2 others in fraud case

The cantonal court in the northern Bosnian town of Tuzla also ordered Mittal to deposit 21 million marka for alleged damages to a company he had run in Bosnia

Daria Sito-Sucic | Reuters  |  Sarajevo 

Pramod mittal
Pramod Mittal | Photo: Reuters

A Bosnian court on Tuesday granted bail to Pramod Mittal, the younger brother of steel magnate Lakshmi Mittal, and two other executives suspected of involvement with organised crime, a prosecutor said.

The cantonal court in the northern Bosnian town of Tuzla also ordered Mittal to deposit 21 million marka for alleged damages to a company he had run in Bosnia, Tuzla prosecutor Cazim Serhatlic told a conference in Tuzla which was broadcast on Bosnian state television.

Mittal and the other two executives were not immediately reachable for comment.

Serhatlic also said that lawyers for the three men had accepted the bail terms required by the prosecutor, and agreed a 1 million Euro bail for Mittal and a total of 500,000 euros for the other two executives.

The court last week ordered a one-month detention for Mittal, who heads the supervisory board and co-owns metallurgical coke producer Global Ispat Koksna Industrija Lukavac (GIKIL) in northern Bosnia, one of the country's biggest exporters.

The detention was also ordered for GIKIL's general manager, Paramesh Bhattacharyya, and supervisory board member Razib Dash.

Mittal's lawyer Vasvija Vidovic told state television that the court had banned the three men from any further activities in the company but did not restrict their movement.

Vidovic was not immediately available to respond to a Reuters request for comment.

A spokeswoman for GIKIL told Reuters it was waiting for an official confirmation of the court's decision. She said that has no connections to GIKIL.

Nobody at the court nor at the Tuzla cantonal prosecution was immediately available for comment.

GIKIL, with around 1,000 employees in the town of Lukavac, is jointly run by Dubai-based Global Steel Holdings Ltd (GSH) and local government-owned KHK since 2003.

First Published: Tue, July 30 2019. 20:30 IST
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