News digest: Bhushan Steel resolution, AT1 bonds, CSR spending, and more

A corporate tug-of-war has broken loose, with infrastructure major L&T moving the NCLT's Delhi Bench against the Bhushan Steel resolution process

Corporate resolution: Larsen & Toubro moves NCLT against Bhushan Steel

A corporate tug-of-war has broken loose, with infrastructure major Larsen & Toubro (L&T) moving the National Company Law Tribunal's (NCLT’s) Delhi Bench against the Bhushan Steel resolution process. Tata Steel on Wednesday had announced it had emerged the highest bidder for the Delhi-based steel company, beating Sajjan Jindal-promoted JSW. L&T alleged that Bhushan Steel, undergoing corporate resolution, had defaulted on payment of Rs 9.62 billion for construction of its Angul factory in Odisha. Read more

Investors upset as four banks recall Rs 109-bn additional tier 1 bonds

With four banks recalling their