Sanjay Singhal

According to ED officials, Singhal was arrested under the Prevention of Money Laundering Act (PMLA) after he was questioned for several hours in the evening in connection with the case.

Open offer for Nova Iron likely around Rs 15: Bhushan Power

Sanjay Singhal, CMD of Bhushan Power and Steel said, the open offer will be around Rs 15 a share. "We will make the open offer announcement tomorrow," he said.

Bhushan Power buys 12% in Nova Iron, says more on cards

Bhushan Power and Steel has bought 12% stake in Nova Iron and the company now intends to make an open offer for it in the long-term, chairman and managing director Sanjay Singhal confirmed. "We have paid approximately Rs 12 per share," he added.