Pramod Mittal, GSHL, GSPI settle Rs 2,210 crore claims of STC India

Various criminal cases and proceedings against Mittal and firms controlled by him have been withdrawn following the settlement

Pramod Mittal and two companies controlled by him, namely Global Steel Holdings (GSHL) and Global Steel Philippines (GSPI), have settled STC India's claims of Rs 2,210 crore.

With this, all proceedings have been resolved or settled pursuant to orders dated December 6, 2018 and March 12, 2019 passed by the Supreme Court. 

A slew of actions, including filing of various criminal cases, proceedings instituted against GSHL, GSPI, Pramod Mittal and Balasore Alloys (also controlled by Pramod Mittal), by the Enforcement Directorate and FIR registered by the CBI have been quashed, said a release from GSHL.

Following conciliation proceedings between GSHL, GSPI and STC,