News Muncher - category bhushan steel

3 weeks, 5 days ago

ED returns assets worth Rs 4,025 crore in Bhushan Steel fraud case

New Delhi: The ED has restituted assets worth Rs 4,025 crore of the erstwhile Bhushan Steel and Power Limited to JSW Steel following approval from the Supreme Court, the federal probe agency said on Saturday.JSW Steel was the successful resolution applicant to the assets of the insolvent company under the Insolvency and Bankruptcy Code of the Corporate Insolvency Resolution Process. …

Assets Pmla Bhushan Steel

1 month, 1 week ago

Turning steel into fool’s gold: The reverse alchemy of Sanjay Singal

Live Mint

Before Nirav Modi became the face of bank fraud in India, Sanjay Singal at Bhushan Power and Steel Limited had seemingly perfected the art of turning steel into fool's gold. The sheer numbers in the case filed against him by several investigative agencies are staggering – 157 shell companies and 33 banks duped of ₹47,700 crore in total. Combined with …

India Delhi Fraud Companies Steel Company Banks

2 years, 2 months ago

Supreme Court Issues Notice To Punjab National Bank On Serious Fraud Investigation Office's Pleas Alleging Fund Embezzlement In Bhushan Steel Ltd.

Live Law

A Supreme Court bench comprising Chief Justice U.U. Lalit and Justices S. Ravindra Bhat and Bela M. Trivedi on Wednesday issued notice to Punjab National Bank on petitions filed by the Serious Fraud Investigation Office regarding alleged siphoning of funds of Bhushan Steel Ltd.The SFIO had submitted before the court that the accused were complicit in embezzlement of funds and. …

Supreme Court Steel Pnb Bhushan Punjab National Bank Sfio Yaduvanshi

4 years, 9 months ago

Sec 32A IBC : Delhi HC Sets Aside SFIO Complaint Against Tata Steel BS Ltd Filed In Respect Of Bhushan Steel [Read Judgment]

Live Law

The Delhi High Court has quashed the summons as well as the complaint filed against Tata Steel BSL Ltd by the Serious Fraud Investigation Office. However while setting aside the complaint, the Single Bench of Justice Vibhu Bakhru clarified that this order will not affect the prosecution of the erstwhile promoters or any of the officers who may be directly …

Court Steel Sec Petitioner Bhushan Steel Read Judgment

4 years, 10 months ago

NCLAT allows JSW Steel acquire Bhushan Power – India TV

India TV News

The National Company Law Appellate Tribunal on Monday allowed JSW Steel to acquire Bhushan Power & Steel Ltd for Rs 19,700 crore by providing it immunity from prosecution by the Enforcement Directorate. A two-member bench headed by Chairman Justice S J Mukhopadhaya, said that JSW Steel will be immuned from the acts done by the former promoters of Bhushan Power …

Steel Nclat Jsw Steel Jsw Bhushan Power Bpsl

5 years, 2 months ago

Mirchi probe: ED summons ex-promoter of Bhushan Steel

India TV News

The Enforcement Directorate's probe into property deals related to Iqbal Mirchi, fugitive don Dawood Ibrahim Kaskar's close aide, has started revealing corporate connections with the agency summoning former promoter of Bhushan Steel over Rs 19 crore transaction. A senior ED official related to the probe told IANS, "We have summoned Naveen Singal, former promoter of Bhushan Steel, for having financial …

Mumbai Steel Yusuf Mirchi Bhushan Steel Bhushan Singal

5 years, 2 months ago

ED attaches Bhushan Power & Steel's Odisha plant worth Rs 4,025 crore

India Today

The Enforcement Directorate on Saturday attached Bhushan Power and Steel Limited's properties worth Rs 4,025 crore, as per the order of the PMLA court. An amount of Rs 695.14 crore was introduced as the capital by Sanjay Singal and his family members in BPSL out of artificially generated Long Term Capital Gains by a diversion of bank loans fund of …

Bank Power Steel Crore Ltcg Bhushan Power Bpsl

5 years, 3 months ago

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

Firstpost

Johari was arrested by the SFIO on May 2 for alleged fraudulent activities, including filing false documents with various banks New Delhi: The Supreme Court on 12 September set aside the Delhi High Court order granting bail to Bhushan Steel’s former chief financial officer Nittin Johari, who was arrested by the SFIO for alleged fraudulent activities. Supreme Court sets aside …

Delhi Supreme Court Court Alleged Sfio Johari Bhushan Steel

5 years, 8 months ago

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