Bhushan Steel's ex-promoters deny any dealings with Iqbal Mirchi

Former promoters of Bhushan Steel on Wednesday denied any dealings with fugitive gangster Dawood Ibrahim's close aide Iqbal Mirchi, saying they had considered buying a Mumbai property of the narcotics smuggler in 2010 but dropped the plans after an unfavourable report came during due diligence.

In a statement, the promoters termed the allegations of having financial dealings with Mirchi as "baseless", saying "neither Bhushan Steel nor any of its promoters have been involved in any such situation."