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bhushan steel: ED conducts raids against erstwhile Bhushan Steel Ltd. in Rs 56,000 cr bank loan 'fraud' case

The Enforcement Directorate has conducted fresh searches against the promoters and entities of Bhushan Steel Limited as part of a money laundering probe linked to a bank fraud case. The agency alleged that the promoters and entities rotated funds through multiple companies for personal purposes, causing losses to State Bank of India and Punjab National Bank. During the searches, incriminating documents, digital records, cash, foreign currency, and luxury cars were seized. ....

West Bengal , Neeraj Singal , Bhubaneswar Odisha , Serious Fraud Investigation Office , Ministry Of Corporate Affairs , Mercedes Benz , Tata Steel Ltd , Punjab National Bank , Bhushan Steel Limited , Bhushan Steel , Enforcement Directorate , Managing Director Neeraj Singal , State Bank , Punjab National , Money Laundering , State Bank Of India ,

bhushan steel: ED conducts searches at 30 locations in Rs 56,000-cr bank fraud case against Bhushan Steel promoters

The Enforcement Directorate (ED) has conducted search and survey operations at 30 locations, including Delhi NCR, Haryana, Kolkata, Mumbai, and Bhubaneswar, against the promoters of Bhushan Steel Limited (BSL) in connection with a bank fraud of Rs 56,000 crore. The investigation revealed that the promoters and directors of BSL formed several shell companies and rotated funds through a chain of multiple entities. ....

West Bengal , Neeraj Singal , Karede Budruk , Mercedes Benz , Bhushan Steel , Serious Fraud Investigation Office , Bhushan Steel Limited , Punjab National Bank , Bhushal Steel , Enforcement Directorate , Managing Director Neeraj Singal , State Bank , Punjab National , Village Karede Budruk , District Raigad , District Kamrup , Managing Director , Bhushal Steel Limited , State Bank Of India , Sled Investigation ,