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 Bhushan Steel's net loss narrows in Q1 to Rs 656.21 crore

Bhushan Steel's net loss narrows in Q1 to Rs 656.21 crore

Bhushan Steel on Saturday said its standalone net loss has narrowed to Rs 656.21 crore for the quarter ended June 30, 2016.

NGT orders closure of Bhushan Steel and Strips Ltd for 4 weeks

The National Green Tribunal has ordered the closure of Bhushan Steel and Strips Limited situated in site -4 industrial area of Sahibabad for 4 weeks declaring it to be a polluting industry.

Bhushan Steel shares soar 20% on bourses

Shares of Bhushan Steel on Friday surged 20 percent after the company said the Joint Lenders Forum have approved its plan for a long-term restructuring of the loans.

Bhushan Steel's Q4 net loss widens to Rs 360.77 cr

Bhushan Steel Wednesday posted a standalone net loss of Rs 360.77 crore for the fourth quarter ended March 31, 2015.

Bhushan Steel in talks with banks for debt restructuring

Bhushan Steel has said it is in talks with banks for restructuring of debt to the tune of USD 3.7 billion (about Rs 23,000 crore).

Banks may extend Bhushan Steel's nearly $6 bn loan

Banks owed nearly $6 billion by Bhushan Steel Ltd could extend the maturity of the steelmaker`s debt under a Reserve Bank of India scheme that would spare the lenders from booking hefty provisions, bankers said.

Syndicate Bank bribery case: Accused in judicial remand

A special court on Wednesday remanded in judicial custody till September 30 Syndicate Bank's suspended CMD S K Jain, Bhushan Steel Ltd Vice Chairman and Managing Director Neeraj Singal and others.

Syndicate Bank bribery case: Court extends JC till September 24

A Delhi court on Thursday extended till September 24 the judicial custody of Syndicate Bank CMD Sudhir Kumar Jain, Bhushan Steel Limited Vice Chairman and MD Neeraj Singal and nine others who were arrested by CBI in connection with a bribery case.

Bhushan Steel independent director V K Mehrotra resigns

Independent non-executive director on the Board of Bhushan Steel V K Mehrotra has resigned from the company citing "falling health".

Govt orders forensic audit on OBC, Dena Bank for Rs 436 cr FD scam

The government has initiated a forensic audit at the state-run Oriental Bank of Commerce and Dena Bank after unearthing of a suspected scam, wherein the lenders allegedly misappropriated funds worth Rs 436 crore from their fixed deposit customers.

Bankers order forensic audit of Bhushan Steel

The decision was taken at a lenders meeting Monday to take a stock of the situation following the arrest of Bhushan Steel Vice Chairman and Managing Director Neeraj Singal by the CBI in an alleged cash for loan scam involving Syndicate Bank Chairman S K Jain.

Can steer through the current crisis: Bhushan steel

Bhushan Steel reportedly has Rs 36,000 crore total debt including Rs 6,000 crore working capital loan through 51 lenders.

Lenders may tighten screws on Bhushan Steel, decision on Aug 18

With Rs 40,000 crore exposure to cash-strapped Bhushan Steel, PNB-led bank consortium will meet on August 18 to decide future course of action including setting up a team for day-to-day monitoring of financial affairs of the firm whose MD is embroiled in a bribery case.

CBI probe into IDBI Bank loan to Kingfisher Airlines

The Central Bureau of Investigation (CBI) has served an inquiry notice on IDBI Bank over a loan of Rs 950 crore it extended to Vijay Mallya-led troubled airline Kingfisher Airlines, saying this extent of exposure was not bona fide.

Syndicate Bank CMD, Bhushan steel MD sent to police custody

A Delhi court on Friday sent Syndicate Bank Chief Managing Director (CMD) Sudhir Kumar Jain and Bhushan Steel Ltd. Vice chairman and managing director Neeraj Singal to police custody till August 12 in a bribery case.

SBI wants external agency to run Bhushan Steel; meeting next week

Bhattacharya said the bank has an exposure of Rs 6,000 crore to the steel-maker which is a standard asset at present.

Syndicate Bank bribery case: Jain, Singal sent to police custody till Aug 12

S K Jain, CMD of Syndicate Bank and Neeraj Singal, Vice Chairman and MD of Bhushan Steel Ltd were Friday remanded to police custody till August 12 in connection with Rs 50 lakh bribery scandal.

Syndicate Bank bribery case: CBI arrests Bhushan Steel Vice Chairman

Singal has applied for anticipatory bail application but it was rejected by Special CBI court of Swarana Kanta Sharma.

Syndicate Bank bribery case: NBWs issued against Bhushan Steel's VC

The agency also claimed that Singal and Totlani were required to be confronted with other co-accused persons who were arrested in the case and are presently in CBI's custody.

HC restrains Centre from encashing bank guarantee of pvt firm

The Delhi High Court on friday stayed the Centre's move to invoke the bank guarantee furnished by private firm Bhushan Steel Ltd in relation to de-allocation of a coal block in Chhattishgarh.