Disappointed over a US court decision against its subsidiary, JSW Steel USA, Sajjan Jindal-led JSW Steel today said it will defend its position under applicable laws.
"JSW Steel USA is disappointed with the decision by the US court and respectfully disagrees with its conclusions. The company is studying and analysing the judgment in detail and evaluating all options available to defend its position under applicable laws," JSW Steel said in a filing to BSE.
JSW Steel USA has been contesting an appeal in the United States Court of Appeals for the fifth circuit, the company said.
According to a media report, the district court in the US has asked the JSW Steel subsidiary to pay a USD 156 million (Rs 1,040 crore) fine as it confirmed an earlier ruling by a jury in an anti-trust case filed by a local steel distributor.
