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SAT sets aside Sebi's order to impose penalty on Bhushan Steel for disclosure lapses
JSW Steel Review CITI Neutral, TP Rs 625 2Q standalone EBITDA fell 80% yoy hurt by 12% drop in steel realizations & higher costs (+20%), Vols rose 32% yoy. EBITDA/t: Rs3500 vs Rs8300 in 1Q & Rs22,900 last yr Bhushan Steel reported a -ve EBITDA/t of Rs2860 vs +ve Rs14500 in 1Q
Why Brickwork Ratings has been removed as a rating agencies: - It didn't mark Bhushan Steel as "D" even after they defaulted - Same with Gayathri Projects - Delayed default recognition in Essel/Zee, GE Energy, Diamond Pwr
Excellent development on insolvency law with the Hon’ble SC holding that ex promoters cannot hold stake in insolvent firms. Case in sight- Bhushan steel. This will pave way for clean handover and drive greater incentive for new mgts
Bhushan Steel owed Rs 59,000 crore to the creditors. #NCLAT
NCLAT dismisses Neeraj Singal's plea against sale of Bhushan Steel's shares to Tata Steel. Take a look @abhhimanyus @TataSteelLtd @TataCompanies #NCLT #NeerajSingal #plea #StocksToWatch #BhushanSteel
Enforcement Directorate (ED) says it has provisionally attached assets worth Rs 61.38 crores in its ongoing investigations regarding siphoning of public funds from Bhushan Steel Limited (BSL), Bhushan Energy Limited (BEL) and others
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