Bhushan Power & Steel controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2019
Bank-loan and alleged fraud investigations
The Central Bureau of Investigation accused Bhushan Power & Steel of obtaining large loans from several banks that later became non-performing assets. During July 2019, Punjab National Bank, Allahabad Bank, and Punjab & Sind Bank disclosed alleged fraud exposures connected with the company. The available reference describes these as allegations and ongoing investigations.
2019
Enforcement Directorate asset attachment dispute
The Enforcement Directorate attached assets valued at approximately ₹4,025 crore in October 2019 in connection with the investigation. The National Company Law Appellate Tribunal issued a stay, while the Ministry of Corporate Affairs questioned the agency's jurisdiction to attach assets during insolvency proceedings.