The court granted Singal interim relief on furnishing of a personal bond of Rs 5 lakh and two sureties of Rs 2 lakh each.
Bhushan Steel has said it is in talks with banks for restructuring of debt to the tune of USD 3.7 billion (about Rs 23,000 crore).
Taking a cue from trends globally, Bhushan Steel is looking to hike prices by around Rs 1,000/tonne by this month.
In an interview to CNBC-TV18, Neeraj Singal, said, "It will help Bhushan Steel because with the duty going up iron ore exports will become good and availability of ore will be more. Also, iron ore prices are likely to come down."
Managing Director of Bhushan Steel & Strips Neeraj Singal says that even though he expects a 40% increase in revenues this fiscal, margins will continue to remain under pressure.
Neeraj Singal, managing director of Bhushan Steel, said, since the company has no operations in Karnataka, it will not face consequences of illegal mining.
Neeraj Singal, MD of Bhushan Steel & Strips, in an interview with CNBC-TV18's Sonia Shenoy and Ekta Batra, gave latest update on the lands acquired for the Orissa and Karnataka steel plant and their plans for the company going forward.
In an interview with CNBC-TV18, Neeraj Singal, MD, Bhushan Steel, spoke about the results and his outlook for the company.
In an interview with CNBC-TV18, Seshagiri Rao, JSW Steel and Neeraj Singal, Bhushan Steel & Strips, speak about steel prices and give their outlook going forward.
There is a general upward pressure on steel prices and that has been exacerbated by the recent floods in Australia which has made a lot of the raw material costs go up. Where are steel prices headed from here on, what can the international prices go to and what will be the impact on Indian steel prices? Experts discuss.