Page 2 - Bhushan Power

JSW's Bhushan Power acquisition in deep freeze as ED refuses to relent

The ED is learnt to have told the tribunal and the MCA that doing so will first require amending the Prevention of Money Laundering Act

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.

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

Adjudicating authority asks RP of Bhushan Power to redistribute profit made during CIRP among all creditors

Best of BS Opinion: Have our institutions responded adequately to frauds?

From trade trouble to future demographic shocks, here are the best of Business Standard Opinions for the day

Fraud charges a worry, but still want Bhushan Power for now: JSW Steel

Firm seeks forensic audit reports of banks from RP, Tribunal asks for copy of its plea to RP, after which it would consider JSW request on August 6

Still want Bhushan Power, but reports of fraud a worry, JSW tells NCLT

JSW Steel on Monday told the National Company Law Tribunal that the company is not backing out from the ongoing resolution process of Bhushan Power & Steel despite reports of alleged fraud by its former promoters. During the proceedings in NCLT, counsel appearing for JSW Steel informed the tribunal that it was anxious about the alleged fraud reports and needs to know what is going inside Bhushan Power & Steel Ltd (BPSL). A two member NCLT bench headed by the President Justice M M Kumar asked the Resolution Professional (RP) of BPSL to hand over a copy of the forensic report to JSW Steel. NCLT said that alleged fraud reports will not have any impact on the insolvency resolution process and JSW's resolution plan for BPSL. NCLT has to take a decision over the lenders' approval of the resolution plan of JSW Steel for BPSL. Earlier on February 4, the National Company Law Appellate Tribunal (NCLAT) had dismissed the plea of Tata Steel and upheld the Committee of Creditors (CoC) ...

Allahabad Bank tanks 15% after reporting Rs 1,775 cr fraud by Bhushan Power

The bank said it has already made provisions amounting to Rs 900.20 crore against the bank's exposure in BPSL

Supreme Court clears deck for NCLT order on Bhushan Power, stays HC order

Top court stays high court order which asked Bhushan Power CoC, NCLT to give firms' ex-directors a hearing.

SC stays high court ruling, clears deck for NCLT order on Bhushan Power

Punjab and Haryana HC had asked firm's CoC and NCLT to give firms' ex-directors a hearing though principal bench of NCLT had already reserved its order on a resolution plan by JSW Steel

ED books Bhushan Power promoters, directors for laundering Rs 2,348 crore

Probe finds Sanjay Singal, others diverted funds from PSBs' loan accounts

Setback for Tata Steel as NCLAT upholds creditors decision on Bhushan Power

The judgement comes in view of a plea moved by Tata Steel opposing NCLT's decision asking the committee of creditors to consider the resolution plan submitted by Liberty House.

Bhushan Power lenders to vote on Tata Steel's resolution proposal today

Tata Steel is understood to have offered Rs 175 billion as upfront payment to financial creditors

Insolvency: Liberty House offers over Rs 260 bn for Bhushan Power

The NCLT has asked Bhushan Power lenders, led by PNB, to consider the bid submitted by Liberty House for the debt-ridden company