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Former Bhushan Steel CFO’s bail plea rejected
Former chief financial officer (CFO) of Bhushan Steel Nitin Johari sought a two-month bail citing co-morbid conditions that posed a grave risk to his health in jail.
![The SFIO arrested Johari in May 2019 and filed a charge-sheet the same year claiming that while as CFO, Johari fraudulently obtained letters of credit from banks worth nearly Rs 20,000 crore.(Pradeep Gaur/Mint File Photo) The SFIO arrested Johari in May 2019 and filed a charge-sheet the same year claiming that while as CFO, Johari fraudulently obtained letters of credit from banks worth nearly Rs 20,000 crore.(Pradeep Gaur/Mint File Photo)](https://images.hindustantimes.com/rf/image_size_300x169/HT/p2/2020/07/17/Pictures/bhushan-pradeep-limited-sahibabad-ghaziabad-uttar-pradesh_b1ff8002-c7a9-11ea-bfec-9e6509a90ca1.jpg)
In its approach to the IBC, the government got it right| Analysis
Instead of a blanket suspension, it went for a calibrated suspension. It will help India gain over other jurisdictions
![Finance minister Nirmala Sitharaman’s announcements are thus being met with relief, though some ambiguity remains(Hindustan Times) Finance minister Nirmala Sitharaman’s announcements are thus being met with relief, though some ambiguity remains(Hindustan Times)](https://images.hindustantimes.com/rf/image_size_300x169/HT/p2/2020/05/20/Pictures/nirmala-sitharaman_a42632b0-9a8f-11ea-b5cf-22f71a9413fe.jpg)
SFIO arrests Bhushan Steel’s former promoter Neeraj Singal for siphoning off funds
Neeraj Singal was arrested in Delhi and has been sent to judicial custody till August 14.
![The Finance Ministry said NeerajSingal is “accused to be guilty of siphoning off funds of over <span class='webrupee'>₹</span>2,000 crore from the loans availed by BSL using more than 80 companies”.(Getty Images/iStockphoto) The Finance Ministry said NeerajSingal is “accused to be guilty of siphoning off funds of over <span class='webrupee'>₹</span>2,000 crore from the loans availed by BSL using more than 80 companies”.(Getty Images/iStockphoto)](https://images.hindustantimes.com/rf/image_size_300x169/HT/p2/2018/08/10/Pictures/arrested-computer-hacker-handcuffs-cyber-criminal-with_cfc0f17c-9c66-11e8-8838-278d266b5e3b.jpg)
NCLAT declines to stay Bhushan Steel sale to Tata Steel, issues notices
An NCLAT bench headed by Chairman Justice S J Mukhopadhaya issued notices to Tata Steel, the resolution professional and the Committee of Creditors of Bhushan Steel, on a petition challenging the sale filed by its promoter Neeraj Singal.
![FILE PHOTO: Waste metal is seen at Tata Steel's new robotic welding line at their Automotive Service Centre in Wednesfield, Britain, February 15, 2017. REUTERS/Darren Staples/File Photo(Reuters File Photo) FILE PHOTO: Waste metal is seen at Tata Steel's new robotic welding line at their Automotive Service Centre in Wednesfield, Britain, February 15, 2017. REUTERS/Darren Staples/File Photo(Reuters File Photo)](https://images.hindustantimes.com/rf/image_size_300x169/HT/p2/2018/05/21/Pictures/robotic-automotive-service-centre-welding-wednesfield-steel_202ee948-5cca-11e8-8da7-089610bcbead.jpg)
Updated on May 21, 2018 01:19 PM IST
Press Trust of India, New Delhi | ByPress Trust of India