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Non-Tech : MFC Industrial Ltd

MIL 1.930

+3.2%

Feb 12 3:00 PM EDT

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From: shocklord	12/21/2012 7:22:34 AM
	of 48

Goa - another Smith lie? in the last CC Smith said all their permits are in order, everything is fine etc... It seems this was another instance of lying to investors' faces (or ears). Here is what the investigating commission says: goachamber.org "From the record, it has been observed that totally 6,55,357.6 MT of iron ore -worth of Rs.140/- crores has been extracted from this leased area in a very short period. This entire extraction of iron ore is considered as illegal. The export price of the mineral should be recovered along with exemplary penalty. It is learnt that the mine is operated by Magnum Minerals Private Limited. Hence, it is also violation of Rule 37 of MCR, 1960."

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