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ED searches 30 locations in Rs 56,000 crore money laundering probe involving Bhushan Steel

ED searches 30 locations in Rs 56,000 crore money laundering probe involving Bhushan Steel

Mon, Oct 16, 2023

The ED's case is based on a charge sheet filed by the Serious Fraud Investigation Office (SFIO). The said complaint had invoked scheduled offences under the PMLA Act.

Tata Steel BSL Jan-March 2019 quarter net loss narrows to Rs 212 crore

Tata Steel BSL Jan-March 2019 quarter net loss narrows to Rs 212 crore

Wed, Apr 17, 2019

Tata Steel BSL said its net loss narrowed to Rs 212.36 crore in the quarter ending March. It had reported a net loss of Rs 21,252.92 crore in the same quarter in FY18.

Fast Money: These 20 shares will help you earn more today, January 9th, 2019

Fast Money: These 20 shares will help you earn more today, January 9th, 2019

Wed, Jan 09, 2019

In this segment of Zee Business know which shares will help you earn more today, January 9th, 2019. Watch full video for more info.

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Tata Steel for higher capacity utilisation in Bhushan Steel

Tata Steel for higher capacity utilisation in Bhushan Steel

Sun, Sep 30, 2018

After acquiring debt-laden Bhushan Steel through the insolvency and bankruptcy process, Tata Steel is now aiming to raise its production to 4 million tonne (MT) by the end of the current fiscal, an official said.

SC stays Delhi HC order in fraud case involving ex-promoter of Bhushan Steel

SC stays Delhi HC order in fraud case involving ex-promoter of Bhushan Steel

Tue, Sep 04, 2018

A bench comprising Justices A M Khanwilkar and D Y Chandrachud, however, took strong note of the haste shown by the high court in executing its order granting bail to Singal on August 29, despite the fact that the top court had kept the appeal of SFIO against the order for hearing the next day.

Top 5 stocks in focus on August 10: Jet Airways, Bhushan Steel to SBI, here are the 5 newsmakers of the day

Top 5 stocks in focus on August 10: Jet Airways, Bhushan Steel to SBI, here are the 5 newsmakers of the day

Fri, Aug 10, 2018

Nothing seems to be stopping the domestic equity markets. On Thursday, the Sensex hit record highs and crossed the mark of 38,000 for the first time to close at 38,024.37. Similarly Nifty also went up to 11, 470.70 before closing.

Big steel companies buying stressed assets will boost consolidation

Big steel companies buying stressed assets will boost consolidation

Mon, Aug 06, 2018

The National Company Law Tribunal (NCLT) in May this year approved Tata Steel's resolution plan for debt ridden Bhushan Steel under the Insolvency and Bankruptcy Code (IBC). The NCLT also gave its approval to the also consortium of JSW Steel and AION Investments Private II Ltd to acquire cash-strapped Monnet Ispat and Energy last month.

Will you pay income tax, GST dues of Bhushan Steel, NCLAT asks Tata Steel

Will you pay income tax, GST dues of Bhushan Steel, NCLAT asks Tata Steel

Wed, May 30, 2018

The National Company Law Appellate Tribunal (NCLAT), hearing appeals against the acquisition filed by Bhushan Steel's founding Singal family and the firm's operational creditor Larsen and Toubro, asked Tata Steel to submit a statement of statutory dues of the company.

Bhushan Steel seeks 90 days extension to file Q4, FY18 results

Bhushan Steel seeks 90 days extension to file Q4, FY18 results

Thu, May 24, 2018

Bhushan Steel is under obligation to submit its audited financial results for quarter and year ended March 31, 2018 within 60 days from the end of the financial year, that is by May 30,2018

Tata Steel acquisition of Bhushan Steel: Another setback for promoter Neeraj Singal at NCLT door

Tata Steel acquisition of Bhushan Steel: Another setback for promoter Neeraj Singal at NCLT door

Mon, May 21, 2018

Tata Steel announced that they have successfully completed acquisition of controlling stake of 72.65% in Bhushan Steel in accordance with the approved Resolution Plan under the corporate Insolvency Resolution Process (CIRP) of IBC.

FinMin expects banks to get back over Rs 1 lakh cr with resolution of 12 major NPAs

FinMin expects banks to get back over Rs 1 lakh cr with resolution of 12 major NPAs

Sun, May 20, 2018

Enthused by successful conclusion of Bhushan Steel case, the Finance Ministry expects banks to write back more than Rs 1 lakh crore after the resolution of all 12 NPA cases referred to insolvency proceedings by the RBI it its first list. Last week, Tata Group acquired controlling stake of 72.65 per cent in the debt-ridden Bhushan Steel Ltd for around Rs 36,000 crore will help in cleansing the banking system as well as boost lenders profitability

Bank’s NPA war! Bhushan Steel parks Rs 36,400 crore debt with lenders, IBC on track

Bank’s NPA war! Bhushan Steel parks Rs 36,400 crore debt with lenders, IBC on track

Sun, May 20, 2018

The Tata Steel acquisition of debt-laden Bhushan Steel comes as a success story for the Reserve Bank of India (RBI) and government who are busy tackling banking systems one key problem massive stressed assets through Insolvency & Bankruptcy Code (IBC).

Bhushan Steel takeover: Jindal congratulates Ratan Tata, Tata Group officials

Bhushan Steel takeover: Jindal congratulates Ratan Tata, Tata Group officials

Sat, May 19, 2018

Steel tycoon Sajjan Jindal today congratulated Tata Group Chairman Emeritus Rata Tata and Senior officials on the successful acquisition of bankrupt Bhushan Steel. He also exuded confidence that the Tata Group will "nurture" the good quality asset. Tata Steel Ltd has won the bid to acquire debt-laden Bhushan Steel Ltd (BSL) in an insolvency auction. The bankrupt firm was among the 12 stressed assets the RBI had referred to NCLT proceedings last year.

Bhushan Steel takeover: Jindal congratulates Ratan Tata, Tata Group officials

Bhushan Steel takeover: Jindal congratulates Ratan Tata, Tata Group officials

Sat, May 19, 2018

Steel tycoon Sajjan Jindal today congratulated Tata Group Chairman Emeritus Rata Tata and Senior officials on the successful acquisition of bankrupt Bhushan Steel. He also exuded confidence that the Tata Group will "nurture" the good quality asset.

Good news for Bhushan Steel employees, here is what Tata Steel said

Good news for Bhushan Steel employees, here is what Tata Steel said

Fri, May 18, 2018

TV Narendran, MD & CEO of Tata Steel, in an exclusive interview with Zee Business, said that the Tatas don't have any plan to delist Bhushan Steel and it will continue as it is for at least the next few years.

NCLT approves Tata Steel's bid for Bhushan Steel

NCLT approves Tata Steel's bid for Bhushan Steel

Tue, May 15, 2018

The National Company Law Tribunal (NCLT) has approved Tata Steel's bid submitted by the resolution professional for Bhushan Steel. NCLT has dismissed Bhushan Steel employees' plea opposing Tata Steel's bid. The tribunal has also imposed a fine of Rs 1 lakh on the company.

Monnet Ispat lenders may take 64 pct haircut

Monnet Ispat lenders may take 64 pct haircut

Wed, Apr 11, 2018

All formalities relating to the resolution has to be completed by the deadline of April 13. According to a source in the know, the deal is likely to be around Rs 3,750 crore, of which close to Rs 2,750 crore could be in cash and remaining could be in equity.

Bankruptcy proceedings against big Steel firms to help consolidation, woo MNCs

Bankruptcy proceedings against big Steel firms to help consolidation, woo MNCs

Sun, Mar 25, 2018

Bhushan Steel, Essar Steel, Monnet Ispat & Energy, and Electrosteel Steels are among the 40 largest defaulters referred by RBI for resolution under the new bankruptcy law and contribute half of the steel sector?s bad loans. EY points out that strong policy support in the form of the national steel policy, coal deregulation and focus on infrastructure development is expected to help the country to build a globally competitive metals and mining industry

Tata Steel's Bhushan Steel bid emerges winner; price may hit Rs 35,000 cr mark

Tata Steel's Bhushan Steel bid emerges winner; price may hit Rs 35,000 cr mark

Fri, Mar 23, 2018

Tata Steel plans to double capacity to 26 million tonnes in five years. It recently commissioned a greenfield steel plant at Kalinganagar, Odisha. Bhushan Steel will help Tata Steel overtake JSW Steel to become the country's top steel producer. Bhushan Steel was on the RBI's first list of 12 companies to be referred to the National Company Tribunal Law (NCLT). Tata Steel had also participated in the bidding process for Electrosteel Steels Ltd. Its bid, however, has been challenged by Abhishek Dalmia-led Renaissance Steel India Pvt Ltd.

Larsen & Toubro moves NCLT seeking dues from Bhushan Steel on priority

Thu, Mar 08, 2018

Counsels appearing for L&T submitted before the bench that the company owes it Rs 9 billion (Rs 900 crore) in dues for supply of capital goods. The engineering and construction major has asked National Company Law Tribunal (NCLT) to acknowledge it as a secured creditor for Bhushan Steel.

PSU banks, metals among 4 reasons why Sensex tanked over 400 points

PSU banks, metals among 4 reasons why Sensex tanked over 400 points

Mon, Feb 19, 2018

The S&P BSE Sensex and the Nifty50 extended losses on Monday as the session progressed even as global cues remained supportive. The 30-share Sensex slipped below its key psychological mark of 34,000, while the Nifty50 was heading towards its crucial 10,300 mark.

Sensex extends losses, dips 200 points; Nifty below 10,400

Sensex extends losses, dips 200 points; Nifty below 10,400

Mon, Feb 19, 2018

The benchmark indices extended losses as the session progressed even as global cues remained positive with the Asian markets ticking up, joining a global recovery.

Sensex slips in red, Nifty trades below 10,500; Tata Steel top loser

Sensex slips in red, Nifty trades below 10,500; Tata Steel top loser

Mon, Feb 19, 2018

The benchmark indices opened higher on Monday, but in minutes pared gains to slip in red even as global cues remained positive with the Asian markets ticking up, joining a global recovery.

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