Bhushan Steel Probe

Bhushan Steel's former resolution professional files review petition in SC

Mahender Khandelwal, the RP for Bhushan Power and Steel Ltd, has claimed that the top court has overlooked certain critical documents and procedural compliances and committed certain 'errors apparent'

Bhushan Steel case: HC issues notice on ED's plea challenging bail grant

The agency has challenged the order granting bail to Archana Ajay Mittal on medical grounds

ED attaches assets worth Rs 367 crore in Bhushan Steel 'bank fraud' case

The Enforcement Directorate (ED) on Friday said it has attached immovable assets worth Rs 367 crore in Delhi, Mumbai, Kolkata and some cities in Odisha as part of a money-laundering probe linked to an alleged bank-loan fraud against Bhushan Steel Limited (BSL). A provisional order has been issued under the Prevention of Money Laundering Act (PMLA) to attach the assets that were held "in the name of benamidars/shell entities through dummy directors so as to conceal them and to ensure that they are out of the reach of law enforcement agencies", the ED has said in a statement. After completing the corporate insolvency resolution process (CIRP), BSL was taken over by Tata Steel Limited in 2018. The ED has accused BSL, its managing director Neeraj Singal and associates of forming "several shell companies". "They rotated funds from one company to another through a chain of multiple entities. The funds were circulated to infuse capital, buy property and for other personal purposes not ...

Bhushan Steel bank 'fraud' case: ED arrests 5 including ex-executives

The Enforcement Directorate Friday said it has arrested five persons in connection with an alleged Rs 56,000 crore bank loan fraud linked money laundering case against erstwhile Bhushan Steel Ltd. Former vice president (banking) of the company Pankaj Tewari, former VP (accounts) Pankaj Agarwal, ex-chief financial officer Nittin Johri, Ajay Mittal, the brother-in-law of former promoter Neeraj Singal, and Ajay Mittal's wife and sister of Neeraj Singal, Archana Mittal were taken into custody under the Prevention of Money Laundering Act (PMLA) on Thursday, it said. They were sent to three days ED custody by a court after they were produced over two days, the agency said. After completing the corporate insolvency resolution process, Bhushan Steel was taken over by Tata Steel Ltd in 2018. According to the ED, Bhushan Steel Limited's former managing director Neeraj Singal and his associates formed several shell companies and the promoters and entities linked to BSL "rotated funds from one

Bhushan Steel bank case: ED nabs 5 persons for alleged Rs 56,000 cr fraud

The Enforcement Directorate has arrested five persons in connection with an alleged Rs 56,000 crore bank loan fraud linked money laundering case against erstwhile Bhushan Steel Ltd (BSL), official sources said Friday. Those taken into custody on Thursday are Pankaj Kumar Tiwari, the former vice president banking of the company, former VP accounts Pankaj Kumar Agarwal, ex-chief financial officer Nitin Johri, Ajay Mittal, the brother-in-law of former promoter Neeraj Singal, and Ajay Mittal's wife and sister of Neeraj Singal, Archana Mittal. After completing the corporate insolvency resolution process (CIRP), Bhushan Steel was taken over by Tata Steel Ltd in 2018. According to the ED, Bhushan Steel Limited's former Managing Director Neeraj Singal and his associates formed several shell companies and the promoters and entities linked to BSL "rotated funds from one company to another through a chain of multiple entities" as part of an alleged bank loan fraud. The money laundering case .

ED attaches Bhushan Steel assets worth Rs 4,000 cr in bank fraud probe

Land, building, plant and machinery of the firm in Odisha attached under PMLA; more likely to be seized

Delhi HC questions SFIO over Bhushan Steel probe, former promoter's arrest

The court said the SFIO was not even sure if the Centre will proceed against the company, yet it went ahead and arrested someone and put him in jail