BANGALORE: The High Court on Monday issued notices to the Union of India and thirty three others over a petition relating to the alleged illegal export of iron ore worth `118 crore by the CMD of BEML Bangalore in 2007-08.
The petitioner, one K Subramanyam Sastry, has stated that Natarajan, as chairman and MD of BEML, had cheated the President of India - who holds a 54.03 per cent stake in the PSU - by investing public money, institutional and other holdings in the names of his wife and daughters, making large pecuniary gains in the process.
He further requested that investigation of the matter be handed over to the CBI.