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Bhushan Power & Steel Ltd

JSW Steel gets immunity for Bhushan Power acquisition

Manufacturing

18 February, 2020

JSW Steel gets immunity for Bhushan Power acquisition

The National Company Law Appellate Tribunal (NCLAT) has given JSW Steel Ltd immunity from all criminal investigations for its takeover ......

Enforcement Directorate links over $500 mn Bhushan Power assets to fraud probe

Manufacturing

14 October, 2019

Enforcement Directorate links over $500 mn Bhushan Power assets to fraud probe

India’s financial fraud agency said on Saturday assets worth 40.25 billion rupees ($567.60 million) of Bhushan Power & Steel Limited ......

Podcast: JSW bags another stressed asset; foreign investors may get policy push

Investor Bulletin

06 September, 2019

Podcast: JSW bags another stressed asset; foreign investors may get policy push

Two years after the Reserve Bank of India asked banks to start bankruptcy proceedings against Bhushan Power & Steel Ltd, ......

NCLT approves JSW's $2.7-bn bid for Bhushan Power & Steel

Manufacturing

05 September, 2019

NCLT approves JSW's $2.7-bn bid for Bhushan Power & Steel

The National Company Law Tribunal (NCLT) has approved billionaire Sajjan Jindal-led JSW Steel Ltd’s offer of Rs 19,700 crore ($2.7 ......

Allahabad Bank reports SEL Manufacturing's $100 mn fraud

Finance

18 July, 2019

Allahabad Bank reports SEL Manufacturing's $100 mn fraud

Allahabad Bank Ltd on Wednesday reported a 6.89 billion rupees ($100.1 million) fraud related to textile company SEL Manufacturing Ltd ......

Punjab & Sind Bank reports fraud in Bhushan Power account

Finance

17 July, 2019

Punjab & Sind Bank reports fraud in Bhushan Power account

India’s Punjab & Sind Bank (PSB) said on Wednesday it has reported a 2.38 billion rupee ($34.58 million) fraud to ......

Allahabad Bank reports $259 mn alleged fraud by Bhushan Power & Steel

Finance

15 July, 2019

Allahabad Bank reports $259 mn alleged fraud by Bhushan Power & Steel

India's Allahabad Bank on Saturday became the second Indian state-owned bank to report a major alleged fraud by bankrupt steelmaker ......

Sensex drops 2% as budget gets thumbs down from investors

Markets

08 July, 2019

Sensex drops 2% as budget gets thumbs down from investors

Indian shares slumped 2% on Monday, their biggest fall so far this year, as investors were disappointed after the federal ......

Punjab National Bank detects $556 mn fraud by Bhushan Power & Steel

Finance

08 July, 2019

Punjab National Bank detects $556 mn fraud by Bhushan Power & Steel

The Punjab National Bank (PNB) on Saturday said it had reported a borrowing fraud of 38.05 billion Indian rupees ($556 ......

Stressed assets this week: Amtek Auto starts afresh, Orchid Pharma faces a twist

General

15 June, 2019

Stressed assets this week: Amtek Auto starts afresh, Orchid Pharma faces a twist

On June 14, 2017, the Reserve Bank of India asked banks to take the 12 biggest debt defaulters to bankruptcy ......