Don't want to miss the best from Business Standard?
Sunday, November 30, 2025 | 09:28 AM ISTहिंदी में पढें
How Bhushan Power & Steel entered the 'dirty dozen' list of defaulters
The insolvency proceedings drew interest from major suitors, including Tata Steel Ltd. and Liberty House of the UK
 "How Bhushan Power & Steel entered the 'dirty dozen' list of defaulters")
premium
The Bhushan Promoters have had a complex family split too, with Sanjay Singal, the elder of two brothers, locked in a decade-long dispute with father Brij Bhushan, and younger brother Neeraj
Nine years ago, on May 3, 2016, the Ministry of Corporate Affairs ordered a probe into the affairs of Bhushan Steel Limited (BSL), Bhushan Steel and Power Limited (BSPL), and 13 other group companies, 12 of which were related to BSPL, while one was related to BSL.
A year later, in June 2017, the Reserve Bank of India named it among 12 large defaulters referred for insolvency under the newly enacted Insolvency and Bankruptcy Code. The company, led by promoter Sanjay Singal, had defaulted on loans totalling ₹47,204 crore.
The insolvency proceedings drew interest from major suitors, including Tata Steel
Topics : Bhushan Steel JSW Steel Industry
