Discover and read the best of Twitter Threads about #BhushanSteel

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Supreme Court is hearing a plea seeking for bail on behalf of former Bhushan Steel CFO Nitin Johari who had been arrested by the SFIO for indulging in fraudulent activities.

#NitinJohari #BhushanSteel
Solicitor-General Tushar Mehta seeks for time to file a reply as multiple matters challenging PMLA provisions have been filed.
CJI observes, “Our jurisdiction should not be used like this by people. Issues should be raised before the High Court. This is an Appellate Court.”

SG has been directed to give list of all matters pending.
Read 10 tweets
#Insolvency Almost a year since @RBI released the list of 12 large defaulters to be marched to NCLT, and we have seen ONE successful resolution so far. Two, if you count Electrosteel Steels, which exited bankruptcy briefly, only to be pulled back in. Here's a quick check (1/n)
#Insolvency #BhushanSteel NCLT approved Tata @TataSteelLtd's takeover of Bhushan Steel. Tatas offered Rs 35,200 cr to settle the lenders' dues at a 37% haircut. Done deal? Bhushan Steel promoter Neeraj Singhal has filed an objection in the matter, NCLAT hearing on May 21. #IBC
#Insolvency #ElectrosteelSteels resolution plan submitted by @VedantaLimited for Rs 5,320 cr was approved by NCLT, but Renaissance Steel, another contender for the company, is now contesting the bid. NCLAT has ordered a status quo on sale of the company until further hearing.
Read 13 tweets

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