Page 2 - Bhushan Power And Steel

ED attaches assets worth Rs 204 cr of ex-Bhushan Power CMD Sanjay Singal

The Enforcement Directorate had on Friday filed a charge sheet against Singal and others before a special Prevention of Money Laundering Act (PMLA) court here.

Ex-Bhushan Power and Steel CMD sent to 7-day custody for 'bank loan fraud'

The ED recently attached assets worth Rs 4,025 crore of Bhushan Power and Steel Limited (BPSL).

ED swoop on BPSL has lenders wary of IBC route for debt resolution

The attachment by the ED was made under PMLA and is being legally tested before the National Company Law Appellate Tribunal (NCLAT) at a time when it is in the final lap of resolution under IBC

NCLAT asks ED, MCA to reach consensus on Bhushan Power & Steel assets

While the ED is of the opinion that it can attach the property of BPSL under the Prevention of Money Laundering Act (PMLA), the corporate affairs ministry has been maintaining that ED can not do so

NCLAT stays implementation of JSW Steel's resolution plan for Bhushan Power

Appellate tribunal also asks ED to release all attached assets immediately to RP of Bhushan Power, bars further attachment

Bank fraud: ED attaches assets worth over Rs 4,000 cr of Bhushan Power

The total value, under the provisional order for attachment, is Rs 4,025.23 crore.

JSW Steel's Rs 19,700-crore bid for Bhushan Power & Steel gets NCLT nod

The NCLT also rejected the objections raised by Tata Steel over the bids submitted by JSW and its erstwhile promoters

Bhushan Power resolution plan is likely to be finalised this month

The resolution plan for Bhushan Power and Steel, facing insolvency proceedings, is likely to be finalised this month, the IRP for the firm Mahender Kumar Khandelwal said today. His comments come amid the Indian arm of Belgium-headquartered accounting and advisory firm approaching the Bombay High Court to initiate arbitration proceedings against Khandelwal, who quit BDO India as partner in January to join rival PwC. "Resolution plans for Bhushan Power & Steel Ltd are already in the process and the same are likely to be finalised within March 2018," Khandelwal told PTI. He is the interim resolution professional (IRP) for the company. In an e-mail response to PTI, BDO LLP managing partner Milind Kothari said: "While the issues for which we have filed a plea for restraint against Mr Mahender Khandelwal remain sub-judice, I would say that the core reason for us to move the Court was that Mr Khandelwals intended exit would have greatly upset the mandate as a Resolution Professional of .