Bhushan Steel

The management noted its continued control over BPSL, in response to investors' questions on whether the Union government's Enforcement Directorate (ED) may seek to attach part of BPSL's assets

Banks stare at reversal of BPSL gains as Supreme Court ruling hits JSW deal

JSW Steel share price: The Supreme Court’s May 2 ruling has cast a harsh spotlight on procedural and legal lapses in one of the most prominent insolvency resolutions under the IBC.

A practical alternative in Bhushan Steel insolvency case

Supreme Court found procedural flaws in the resolution and also concluded that the conduct of critical stakeholders was dubious. Given that the resolution had already been implemented and the company is running, the Court could have ordered parties it found guilty to pay compensation. Unravelling a done deal will have consequences that will ripple out across the economy

ED attaches assets worth Rs 367 crore in Bhushan Steel 'bank fraud' case

A provisional order has been issued under the Prevention of Money Laundering Act (PMLA) to attach the assets that were held "in the name of benamidars/shell entities through dummy directors so as to conceal them and to ensure that they are out of the reach of law enforcement agencies", the ED has said in a statement.

‘Too small an amount’ SC dismisses SEBI’s appeal against tribunal’s dismissal of Rs 2 lakhs penalty on Tata Steel BSL

SEBI’s lawyer tried to convince the court stating that the appeal was filed considering the question of law involved and not just the penalty.

Brickwork Ratings, employees may be in for a legal battle with SEBI, say experts

A legal battle may last years. Meanwhile, employees are likely to face a temporary setback and job losses

Man of steel: Here’s how TV Narendran turned Tata Steel around

The Tata Steel MD took over when the company was in danger of sinking. Today, he has taken it past the group’s reigning cash cow, Tata Consultancy Services — Tata Steel reported a profit of Rs 31,914 crore for the first nine months of FY22.

ED attaches assets worth Rs 61.38 crore in graft probe against Bhushan Steel, BEL

BSL, BEL and its former promoters are accused of siphoning off public funds and are facing a probe under the Prevention of Money Laundering Act

Why JSW Steel is keen on closing its Bhushan Power & Steel acquisition

A changed industry scenario makes it easier for JSW Steel to absorb the weight of the acquisition

CVC writes to government defending PNB Executive Director RK Yaduvanshi in Bhushan Steel case

The Commission seeks review of SFIO complaint, says ‘gross injustice’ is done to the officer; Bhushan Steel was one of India's largest loan defaulters and on the first list of cases suggested by the RBI for insolvency proceedings.

NCLAT reserves order on JSW Steel's Bhushan Power buyout

An NCLAT bench headed by Justice S J Mukhopadhaya concluded its hearing as arguments in all seven petitions, including JSW Steel and former promoters of Bhushan Power and Steel Ltd (BPSL), are over.

Bhushan Steel case: Delhi HC to hear next week ED's plea to modify order directing 'no coercive steps'

A bench of Chief Justice D N Patel and Justice C Hari Shankar listed the application for hearing on January 21 after Singal's counsel sought another date.

Bank fraud: ED attaches assets of over Rs 4,000 cr of Bhushan Steel

The central probe agency said it has attached land, building, plant and machinery of the firm located in Odisha under the provision of the Prevention of Money Laundering Act (PMLA).

BPSL lenders hold talks with JSW Steel on better takeover terms

Talks come as JSW Steel is unhappy with the takeover terms cleared by the NCLT. Banks tried to better the final terms for JSW, which had made two key demands, but were rejected by NCLT.

SC sets aside Delhi HC order granting bail to ex-CFO of Bhushan Steel

A bench headed by Justice N V Ramana delivered the verdict on an appeal by the Serious Fraud Investigation Office challenging the August order of the high court.

SFIO seeks action against Bhushan Steel's lenders, including SBI, PNB, LIC

In its report that runs into over 70,000 pages, the investigating agency has charged officials of 13 banks of being hand-in-glove with the Bhushan Steel promoters

100-Word Take | Tata Steel fortifies Bhushan Steel buy with Energy addition

Tata Steel adds heft to its Bhushan Steel acquisition with a successful bid for Bhushan Energy

Tata Steel reports strong Q4 performance led by volume growth; valuations reasonable

At its April 25 closing price of Rs 510 per share, its stock is trading at seven times its FY20 estimated price-to-earnings, which is quite reasonable

3 Point Analysis | Tata Steel BSL Q4

Sakshi Batra does a 3 Point Analysis fine print of the result of Tata Steel's newly acquired company.

Tata Steel BSL: Striving for operating gains; more to follow

Tata Steel helped Bhushan to swiftly gain its lost production.

CBI raids Bhushan Steel and Power's premises in Rs 2,348 crore bank fraud case

The searches were carried out at multiple locations in a number of cities, including the Delhi-NCR, Chandigarh and Kolkata at office and residential premises of the company, its directors and promoters and their associates, they said.

Tata Steel quietly takes 92% in the erstwhile Bhushan Steel through convertible shares

We expect that the Tata’s will play nice here – and either merge the company with Tata Steel, at a possible conversion price closer to Rs 30 per share (effectively) after conversion

Bhushan Steel is Tata Steel BSL now

Earlier, Tata Steel had won the bid to acquire debt-laden Bhushan Steel in an insolvency auction.

Tata Steel looks at unified branding for newly-acquired cos

Bhushan Steel's own brand will continue to be in place for now, Anand Sen said.