NEW DELHI: The Directorate of Enforcement handed over Bhushan Power and Steel Ltd assets worth Rs 4,025 crore to JSW, which successfully bid for BPSL under the insolvency resolution process. The enforcement directorate had attached the properties of Bhushan Power and Steel Ltd after it found the company and its promoters diverted bank funds to private investments in the form …
The Enforcement Directorate has restituted assets worth ₹4,025 crore to JSW, a Successful Resolution Applicant in the matter of the erstwhile Bhushan Power and Steel Limited under the Corporate Insolvency Resolution Process of the Insolvency and Bankruptcy Code. The assets were provisionally attached by the ED under Section 5 of Prevention of Money Laundering Act as the erstwhile promoters of …
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 …
The Enforcement Directorate recently attached assets worth Rs 415 crore of Maharashtra’s two builders in relation to the Yes Bank-DHFL bank loan fraud-linked money laundering case. The DHFL scam is India’s biggest financial fraud involving Rs 34,000 crore, in which a total of 17 banks have been defrauded by this home loan provider. Here’re four biggest financial scams in India: …
