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Bhushan Steel News

30 May 2018

NCLAT asks Tata Steel if it will pay dues of Bhushan Steel

Bhushan Steel owed its lenders about Rs 56,000 crore and was among the 12 big loan defaulters identified by the Reserve Bank of India last year to undergo insolvency under the new bankruptcy law.

22 May 2018

NCLAT issues notice to Bhushan Steel RP, CoC on L&T's plea

NCLAT also impleaded Tata Steel, whose bid for the debt ridden firm has been approved, as party over L&T plea seeking to recover Rs 900 crore.

Tata Steel-Bhushan Steel bid

21 May 2018

NCLAT declines to stay Bhushan Steel sale to Tata Steel, issues notices

The bench directed the matter to be listed on May 30 and asked the parties to file their replies in a week.

21 May 2018

Bhushan Steel's buyout to reduce PSB NPAs by Rs 35,000 crore

Last week, Finance Minister Piyush Goyal had tweeted that the acquisition was a "historic breakthrough in resolving legacy issues of banks".

Tata Steel-Bhushan Steel bid

18 May 2018

Tata Steel will absorb all employees of Bhushan Steel: TV Narendran

Tata Steel does not have any delisting plan of the Bhushan steel and it will continue as it is at least for next 2-3 years.

Tata Steel-Bhushan Steel bid

17 May 2018

NCLAT to hear Bhushan Steel promoter's plea against Tata Steel takeover

Singal has sought a stay on the National Company Law Tribunal (NCLT) order approving Tata Steel's bid for the debt-ridden Bhushan Steel under corporate insolvency resolution process.

Tata Steel Q4 income

17 May 2018

Tata Steel Q4 net profit at Rs 14,688 crore

It had clocked a net loss of Rs 1,168.02 crore in the same quarter last year.

Bhushan Steel-Tata Steel bid

15 May 2018

NCLT approves Tata Steel bid for Bhushan Steel

The tribunal also dismissed a plea filed by the employees of Bhushan Steel opposing Tata Steel's bid and imposed a fine of Rs 1 lakh.

23 Apr 2018

NCLT asks Bhushan Steel CoC to consider Liberty House bid

Bhushan Power and Steel owes about Rs 45,000 crore to its lender.

23 Mar 2018

Tata Steel wins bid to acquire debt-laden Bhushan Steel

Tata Steel said it has accepted the letter of intent (LoI) for BSL under the corporate insolvency resolution process of the Insolvency and Bankruptcy Code 2016 (IBC).

Piramal Enterprises

25 Jan 2018

Piramal to join JSW, JFE Steel in bid for Bhushan Steel

Tata Steel, JSW Steel, and Vedanta are other players that have shown interest in Bhushan Steel.

16 Nov 2017

ArcelorMittal, Tata Steel evince interest in Bhushan Steel

According to the information on Bhushan Steel Ltd website, the company is the 3rd largest secondary steel producer in the country with an existing steel production capacity of 5.6 million ton per annum.

Banking Regulation Act

27 Aug 2017

Govt notifies changes in Banking Regulation Act

The banking sector is saddled with non-performing assets (NPAs) of over Rs 8 lakh crore, of which Rs 6 lakh crore is with public sector banks (PSBs).

25 Aug 2017

Cafral study claims positive market response to NPA Ordinance

Since the Ordinance and naming of 12 largest defaulters, the banking index gained over 5 per cent, says the report based on the stock performance between May 4 and June 13.

10 Sep 2016

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.

11 Dec 2015

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.

05 Jun 2015

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.

27 May 2015

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.

19 Mar 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).

18 Mar 2015

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.

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