Pankaj Oswal, the eldest son of late industrialist Abhey Oswal, has dragged Naveen Jindal and some of his group companies to the National Company Law Tribunal ( NCLT ). We would like to categorically state that any, and all transactions between the Oswal group and JSPL group entities/associates are in strict adherence to best corporate governance practices. "Arr Ess Industries, a company associated with Anil Bhalla, has benefitted from real estate development contracts given out by the Oswal group firms, the petition alleged. Arr Ess has allegedly been appointed as primary contractor for this project.Stock prices of both Oswal Agro and Oswal Greentech have come off recent highs. Oswal Agro was trading at around Rs 12 levels, while Oswal Greentech was Rs 28, both down about 30% from their peaks in January.Bhalla, who is the director of Oswal Agro Mills, said, "We don't comment on any matter filed in tribunal or, (which is), sub judice.

Source: Economic Times March 13, 2018 11:30 UTC