Tata Steel wins bid to acquire assets of Bhushan Steel
Tata Steel wins bid to acquire assets of Bhushan Steel
Tata Steel Said It Has Accepted The Letter Of Intent (LoI) For BSL Under The Corporate Insolvency Resolution Process Of The Insolvency And Bankruptcy Code 2016 (IBC). PTI | Updated on: 24 Mar 2018, 08:58:42 AM
New Delhi:
Tata Steel Ltd on Friday said it has won the bid to acquire debt-laden Bhushan Steel (BSL) in an insolvency auction.
In a statement, the company said it has been declared as the successful resolution applicant by the committee of creditors of Bhushan Steel Limited on March 22, 2018, subject to obtaining necessary regulatory approvals, including approval from the NCLT and the Competition Commission of India.
Satish Kumar Gupta and Others
(Essar Steel case) held
that allowing claims apart from those covered in a resolution plan
to survive after the approval of a resolution plan militates
against the rationale of Section 31 of the IBC. The Supreme Court
held that the successful resolution applicant should be given an
opportunity to take over and run the business of the corporate
debtor on a clean slate. Accordingly, a resolution applicant should
not be suddenly faced with undecided claims which would
throw into uncertainty the amounts payable by a resolution
applicant to take over the business of the corporate debtor.
Subject: Notice of the Meeting of the Equity Shareholders of Tata Steel Limited convened pursuant to the directions of the Hon ble National Company Law Tribunal, Mumbai Bench ( NCLT ) in the matter of Composite Scheme of Amalgamation of Bamnipal Steel Limited and Tata Steel BSL Limited (formerly known as Bhushan Steel Limited) into and with Tata Steel Limited ( Company ) This refers to our letter dated February 17, 2021 informing that in accordance with the orders of the NCLT dated February 20, 2020 passed in the Company Scheme Application No. 3083/MB/2019 and orders dated January 11, 2021, January 19, 2021 and February 5, 2021 passed in the Company Application No. 1056/2020 (collectively referred as Order ), a meeting of the Equity Shareholders of the Company is being convened on Friday, March 26, 2021 at
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FATF and India’s Hawala transactions
National
February 15, 2021
There are numerous steps and activities that India has taken over the years that define Indian character as a rogue state that destabilizes its neighbours and the region. For example, India has been found using Hawala money for terror financing. As per the US Treasury Department’s study, India is one of the largest countries to move money secretly through Hawala worldwide. India was categorized by the US State Department as “Jurisdiction of Primary Concern” in respect of Money Laundering and Financial Crimes. The US State Department’s 2020 report states that for Indian government, money laundering and terror financing are lower priorities while it appreciated the current Pakistan government for taking measures to address the gaps. As per essential measures of FATF, India has failed to identify the risks, and develop policies and domestic coordination to counter money laundering. Under the FATF recommendati