One incident I remember is the disbanding of the Sesa Goa football team.

Sesa Goa said it had not received any order yet.

Sesa Goa already holds 20 percent in Cairn India directly.

So we went to the Sesa management, which denied plans for any such move.

Sesa Goa shares fell 12 percent on Tuesday after local media first reported the investigation.

We hope to make up in the rest of the year, Sesa spokesman R Krishnagopal said.

Sesa Goa's financial year starts on April 1.

Sesa Goa, owned by Vedanta Resources VED.L, used to ship about 15 percent of those exports.

The Sesa Goa football team was indeed disbanded.

Sesa Goa exports more than 90 percent of its iron ore, and China is its biggest market.

Shares in Sesa Goa and JSW SteelJSTL.NS rose by as much as 5 percent after the report.

Vedanta has aluminium operations in Korba and owns a majority stake in iron ore producer Sesa Goa.

Mining bans in Goa and Karnataka have already taken a toll on Sesa, which operates in both states.

Sesa Goa SESA.NS shares rose 4.3 percent to 203.35 rupees.

After the share transfer, Sesa Sterlite would be listed in India and also list American Depositary Shares in New York.

Sesa Goa said it believed the investigation originated from a complaint filed in 2003 by a shareholder of Sesa Industries.