Bhubaneswar: In a bid to enter Indian steel market, Steel major ArcelorMittal is considering to buy stressed assets of Bhushan Steel, which has a good presence in auto steel categories with a 5.6 Million Tonne (MT) integrated steel plant in Odisha. According to reports published in national media, LN Mittal-led ArcelorMittal has submitted an expression […]
Mumbai: Creditors of debt-laden Bhushan Steel have reportedly asked the company to sell its steel plant in Dhenkanal to raise cash and repay some loans. According to reports in national media, the suggestion was put forward by the creditors to the company at a meeting of a core group of lenders with Bhushan Steel’s management […]
The death toll in the Bhushan steel plant fire explosion rose to two on Wednesday with the death of one injured, who was undergoing treatment at a private hospital in Cuttack
Bhushan Steel, which operates a plant in Odisha where a fire broke out last week killing one person and injuring 15, was today accused by Union Minister and Congress leader Srikant Kumar Jena of violating all safety and labour laws
After the much hue and cry over the ‘missing’ report of five foreign nationals from the Blast furnace site of Bhushan Steel since the Wednesday explosion, the company authorities on Sunday shifted 42 foreign engineers from the plant site to Bhubaneswar
New Delhi: The Supreme Court on Tuesday said interim bail granted to Bhushan Steel’s erstwhile promoter Neeraj Singal by the Delhi High Court in an alleged Rs 2,500-crore fraud case will continue. A bench of Justice A.M. Khanwilkar and Justice D.Y. Chandrachud said it was only allowing the interim bail to continue and stayed the […]
New Delhi: Tata Steel’s wholly-owned subsidiary Bamnipal Steel Ltd on Friday acquired 72.65 per cent stake in Bhushan Steel Ltd (BSL) in accordance with the approved resolution plan under the corporate insolvency resolution process (CIRP). Calling it a historic breakthrough in resolving legacy issues of banks, Finance Minister Piyush Goyal said that lenders recovered almost […]
Mumbai: Tata Steel on Friday said it has been declared the successful “resolution applicant” by the Committee of Creditors (CoC) of Bhushan Steel Ltd (BSL). In a regulatory filing to the BSE, the company said the decision was subject to obtaining regulatory approvals from the National Company Law Tribunal (NCLT) and the Competition Commission of […]
New Delhi: Bhushan Steel on Saturday said its standalone net loss has narrowed to Rs 656.21 crore for the quarter ended June 30, 2016. The firm had reported a net loss of Rs 728.16 crore in the year-ago period, it said in a BSE filing. Total standalone income of the company rose marginally to Rs […]
Dhenkanal district collector Rupa Roshan on Thursday filed two cases against Bhushan Steel Ltd (BSL) Managing Director Neeraj Singhal for alleged violation of the Forest and Environment Act
New Delhi: The CBI has issued a Look Out Circular (LOC) against Bhushan Steel Chairman Sanjay Singhal and his wife and Vice Chairman Aarti Singhal in connection with its investigation in a case of cheating in loans worth Rs 2,348 crore against them, official sources said on Wednesday. Central Bureau of Investigation (CBI) sources said […]
New Delhi: The Enforcement Directorate has claimed that Bhushan Power and Steel Ltd’s (BPSL) former Chairman and Managing Director Sanjay Singal siphoned off an amount of Rs 4,025.23 crore fraudulently. “Sanjay Singal siphoned off an amount of Rs 4,025.23 crore by way of criminal activity related to a scheduled offence and has acquired, used and […]
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