The Board of Electrosteel Castings at its meeting held today i.e., on 28 May 2025 have approved the proposal to make investment by way of purchase and acquisition of 30,00,000 shares of Euro 1 each representing 100%...
SC orders status quo on Bhushan Power liquidation
NEW DELHI: The Supreme Court of India ordered status quo on liquidation proceedings of Bhushan Power and Steel Ltd (BPSL) pending the verification of the review petition to be filed by JSW Steel. The court asked JSW...
NCLT adjourns hearing on Bhushan Power & Steel’s promoter plea for a month
The NCLT on Tuesday adjourned its hearing over a petition filed by Sanjay Singhal, former promoter of debt-ridden Bhushan Power & Steel Ltd (BPSL), to June 26. Singhal has approached the National Company Law...
Bhushan Power ex-promoter moves NCLT to give effect to SC liquidation order
Sanjay Singal, the erstwhile promoter of Bhushan Power and Steel (BPSL), has filed an application before the National Company Law Tribunal (NCLT) Delhi, seeking directions to implement the Supreme Court’s recent...
Bhushan Power creditors weigh legal options after SC scraps JSW Steel deal
Creditors to Bhushan Power & Steel, including State Bank of India, Punjab National Bank, and Asset Care Reconstruction Enterprise (ACRE), are assessing the legal paths available to them after the Supreme Court...
Government to finalise view on liquidation of Bhushan Power and Steel soon, says DFS Secretary
The government is reviewing the Supreme Court’s order on liquidation of Bhushan Power and Steel Ltd and it will take a view on the matter based on the discussions with the senior government advocates, said M...
IBC rules under review after scrapping of JSW Steel’s BPSL acquisition
India is reviewing its insolvency regulations to ensure strict adherence to stipulated processes and timelines by key stakeholders to prevent cases like JSW Steel’s acquisition of Bhushan Power and Steel (BPSL)...
Thyssenkrupp explores exit options for materials trading unit, Bloomberg News reports
Germany’s ThyssenKrupp AG is exploring exit options for its materials trading subsidiary that could be valued at as much as 2 billion euros ($2.21 billion), Bloomberg News reported on Wednesday, citing people...
Trump orders fresh review of Nippon Steel’s bid for US Steel
President Donald Trump on Monday directed a U.S. national security panel to take a fresh look at Nippon Steel’s bid for U.S. Steel to help determine if “further action” is appropriate, raising hopes...
Jindal Steel to acquire Allied Strips for Rs 217.5 crore
Jindal Steel and Power has acquired Allied Strips Limited (ASL), a Haryana-based manufacturer of steel-based products, for Rs 217.53 crore in cash. The acquisition was done through Jindal Steel Odisha (JSO), a wholly...
Radha Smelters receives NCLT’s nod to acquire GVK Gautami Power
The National Company Law Tribunal (NCLT) has approved steel manufacturer Radha Smelters Pvt Ltd’s resolution plan to acquire GVK Gautami Power Ltd through the insolvency resolution process. The Hyderabad-based TMT...
India steel minister says no decision on KIOCL, NMDC merger
India has not taken any decision to merge KIOCL and NMDC, junior Steel Minister Bhupathiraju Srinivasa Varma said in a written response in parliament on Tuesday. The steel ministry had proposed a merger of the miners in...
