Bhushan Power News

Politics

SC to hold final hearing in BPSL insolvency case on 8 September

Bhushan Power was part of the original dirty dozen cases identified by the Reserve Bank of India to be referred to bankruptcy courtsJSW Steel, with an offer of ₹19,700 crore for the bankrupt steel mill, was the highest bidder for the asset

1 min read5 Aug 2020
Companies

CoC of BPSL pledge before SC to return money on its sale within two months

The conditions of Bhushan Power and Steel Ltd's takeover are being appealed by the steel mill's former promoter

1 min read6 Mar 2020
Companies

NCLAT gives JSW Steel immunity from ED in Bhushan Power acquisition

Bhushan Power was part of the original dirty dozen cases identified by the Reserve Bank of India to be referred to bankruptcy courtsJSW Steel, with an offer of ₹19,700 crore for the bankrupt steel mill, was the highest bidder for the asset

1 min read17 Feb 2020
Industry

NCLAT clears way for JSW Steel to acquire Bhushan Power

The bench had reserved its judgement on acquisition of Bhushan PowerBhushan Power was among 12 companies in RBI's first list of defaulters in June 2017

1 min read17 Feb 2020
News

NCLAT gives approval to JSW Steel to acquire Bhushan Power

The National Company Law Appellate Tribunal on Monday allowed JSW Steel to acquire of Bhushan Power & Steel LtdA two-member bench said that JSW Stwel will be immuned from the acts done by the former promoters of the Bhushan Power & Steel Ltd

1 min read17 Feb 2020
News

ED attaches ₹204 crore assets of ex-Bhushan Power CMD in money laundering case

The special court on Friday also took cognizance of the chargesheet and issued production warrants against the accusedSingal was arrested ED on 22 November last year and is presently in judicial custody

1 min read18 Jan 2020
News

ED files chargesheet against Bhushan Power and Steel in money laundering case

Sanjay Singal was placed under arrest on 22 Nov under PMLA after he was questioned in connection with the caseThe agency had in October attached immovable properties worth ₹4,025 cr of Bhushan Power and Steel

1 min read18 Jan 2020
Companies

Court dismisses former BPSL CMD Singal's bail plea

Singal is accused in a multi-crore money laundering case linked to an alleged bank loan fraudSpecial judge denied the relief to Singal saying the quantum of amount involved in the case and the role allegedly played by him do not entitle him to bail

1 min read25 Dec 2019
News

Special court extends ED custody of former BPSL chairman Sanjay Singal by 7 days

ED told the Delhi court that further custody was required for confronting Singal with further documentsSingal was placed under arrest on 22 November under the Prevention of Money Laundering Act

1 min read29 Nov 2019
Companies

Govt plans to amend IBC to ring-fence buyers of stressed assets from prosecution

During the current Winter Session of Parliament, the government may move an amendment to the IBC to make it more attractive for biddersThe amendment comes after several companies that are vying for assets being auctioned under IBC expressed concern regarding getting into legal trouble over the cases against previous promoters

1 min read24 Nov 2019
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