Steel magnate Lakshmi Mittal's brother Pramod Mittal arrested in Bosnia

The case is related to the running of a coking plant in the northeastern town of Lukavac, which Pramod Mittal has co-managed since 2003. It has a 1,000 employees

Sarajevo: The Bosnia police on Wednesday arrested Indian industrialist Pramod Mittal, the younger brother of steel magnate Lakshmi Mittal for suspected fraud and 'abuse of power'. The arrest came in the wake of a case is related to the running of a coking plant which has around 1,000 employees in the northeastern town of Lukavac, which Pramod Mittal has co-managed since 2003.

Prosecutor Cazim Serhatlic, "Police, who acted upon the order of the prosecutor, arrested the president of the supervisory board of GIKIL, Pramod Mittal."

GIKIL was founded in 2003 and is co-managed by Pramod Mittal's Global Steel Holdings and a local public company (KHK). Apart from Pramod Mittal, two other company officials namely general manager Paramesh Bhattacharyya and another member of the supervisory board were also arrested on the suspicion of "organised crime, notably the abuse of power and economic crimes," the prosecutor said. According to the prosecutor, the suspects could get jail sentences of up to 45 years if found guilty.

An arrest warrant has been issued for a fourth man who is "considered to be a member of this organised criminal group with Pramod Mittal on top". The suspects will appear before a judge on Wednesday.

A report in PTI quoted a website which covers organised crime, the suspects were believed to have embezzled "at least five million marks" (2.5 million euros, USD 2.8 million). Lakshmi Mital, the CEO of global steel giant ArcelorMittal, has bailed out his cash-strapped brother Pramod in India. Pramod Mittal owns several companies in the Balkans.

Edited by mid-day online desk with inputs from ANI

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