NEW DELHI: State-owned Indian Oil Corporation (IOC) has begun a probe into allegations of a US specialty chemicals firm bribing its officials 15 years back to obtain contracts to supply catalysts, according to a company's regulatory filing.
Albemarle Corporation, a global specialty chemicals supplier that develops and sells catalysts used in the operation of oil refineries, allegedly "paid approximately $1.14 million in commission to India intermediary company relating to Indian Oil Corporation business and obtained approximately $11.14 million in profits on that business between approximately 2009 and 2011," according to a US SEC order dated September 28, 2023.
Albemarle was caught for bribery by the US authorities in 2017 and then settled the case in September 2023 by paying a hefty fine of more than $198 million to avoid prosecution.
Denne historien er fra December 23, 2024-utgaven av Millennium Post Delhi.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra December 23, 2024-utgaven av Millennium Post Delhi.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Blake Lively accuses Justin Baldoni of harassment & smear campaign
The complaint also stated that he 'abruptly pivoted away from' the movie's marketing plan
Bollywood needs new voices, artists from across India
Varun Dhawan said that people in positions of power in Bollywood need to understand the need to change with time
'Pushpa 2' is most watched film of 2024
The film earned Rs 1,500 crore at the global box office
Richa feels like giving up 'every six months'
Chadha and Ali Fazal are promoting their debut production venture 'Girls Will Be Girls'
Celebrate the magic of Christmas and New Year at Eros Hotel
Step into a world of joy and indulgence this festive season as Eros Hotel New Delhi, Nehru Place, presents an unforgettable celebration filled with delicious feasts, vibrant music and luxury hospitality.
Mandhana, Renuka blow away West Indies in first Women's ODI
Stylish opener Smriti Mandhana extended her purple patch with a classy knock before pacer Renuka Thakur excelled with the new ball as India outplayed a self-destructing West Indies by a record 211 runs in the first Women's ODI here Sunday.
Dubai to host India's matches in CT
Dubai has been locked in as the neutral venue to host India's matches in the Champions Trophy with a semi-final and the final also to be staged in the UAE if Rohit Sharma and Co qualify for the knockouts.
'BIT & FTAs two separate pacts & should continue to remain so'
Investment protection element provides a wide range of obligations & commitments bestowed upon foreign investors, which are expansive
Mcap of all top-10 firms slumps ₹4.95 lakh crore
The combined market valuation of all the top-10 most valued firms plunged Rs 4,95,061 crore last week, in line with a bearish trend in equities, where TCS and Reliance Industries Ltd (RIL) faced the sharpest erosion.
Root returns to ODI squad for India tour, Champions Trophy
Veteran batter Joe Root's return to 50-over format after more than a year headlined England's squad announcement for the ODI tour to India and the ICC Champions Trophy.
