Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.


Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence


Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » India
1-min read

Steel Magnate Lakshmi Mittal's Brother Pramod Mittal in Bosnia Custody for Suspected Fraud

Mittal, younger brother of steel magnate Lakshmi Mittal, heads the supervisory board and co-owns metallurgical coke producer Global Ispat Koksna Industrija Lukavac (GIKIL) in northern Bosnia.


Updated:July 26, 2019, 4:30 PM IST
Steel Magnate Lakshmi Mittal's Brother Pramod Mittal in Bosnia Custody for Suspected Fraud
File image of Pramod Mittal. (Photo: Reuters)

Sarajevo: Indian industrialist Pramod Mittal, the younger brother of steel magnate Lakshmi Mittal, is to remain in custody in Bosnia for at least a month following his arrest for suspected fraud, a prosecutor said Friday.

A judge in the court of Tuzla in the northeast of the country "has ordered that the three people under investigation remain in custody for a month," prosecutor Cazim Serhatlic told AFP.

The probe is into the suspicious transfer of some 21 million Bosnian marks (USD12 million) from the bank account of a coking plant between 2006 and 2015, prosecutors had said on Wednesday.

Pramod Mittal, the 62-year-old head of the supervisory board of GIKIL which operates a coking plant in the northeastern town of Lukavac, was arrested on Tuesday.

Two other company officials — general manager Paramesh Bhattacharyya and another member of the supervisory board — were also arrested.

The detention request was made in view of the "flight risk, repetition of criminal acts and breach of public order," said prosecutor Serhatlic.

GIKIL was founded in 2003 and is co-managed by Pramod Mittal's Global Steel Holdings and a local public company (KHK).

In operation since the 1950s, the coking plant employs around 1,000 people.

Serhatlic has said that if found guilty the suspects could be jailed for up to 45 years.

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.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months. Use code FREEDOM.

Read full article
Next Story
Next Story

Also Watch


Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results