JSW Steel’s Bhushan Power takeover may soon see light of day

22

New Delhi, Sep 9 | The much-delayed, high-profile resolution process of Bhushan Power and Steel Ltd (BPSL) may soon become a success as the Supreme Court is likely to give its final verdict in coming days.

In its previous hearing on September 4, the top court gave two more weeks to both the parties — ex-BPSL promoter Sanjay Singal and the Enforcement Directorate (ED) — to make their final submissions.

JSW Steel’s Rs 19,700 crore bid to acquire BPSL hit a stalemate as the ED had moved the top court earlier against the National Company Law Appellate Tribunal (NCLAT) order to lift the attachment order against BPSL’s properties.

The ED has argued that the appellate tribunal has no jurisdiction to unfreeze and approve the sale of an asset attached by the investigating agency.

The case also raises concerns regarding the effectiveness of the much-hailed Insolvency and Bankruptcy Code (IBC), as the ED continues to hold on the attachments although the government made an amendment to the IBC to protect buyers of bankrupt companies, through the introduction of the IBC’s Section 32A in December.

The NCLAT approved the JSW Steel’s resolution plan in February this year. The ED has so far attached assets worth over Rs 4,000 crore of Bhushan Power and JSW Steel is against paying the amount without the assets being released by the ED.

Earlier, this week, the State Bank of India (SBI), the lead banker to the bankrupt BPDL, invoked the personal guarantees of Singal, the former promoter of the company, and has sent him a demand notice for recovery of Rs 12,275.91 crore.

Source: IANS

Sponsors Posts

From being a developer to a CEO in California, Manthan Dudeja's top tips to make money while you're still in college

From being a developer to a CEO in California, Manthan Dudeja's top tips to make money while you're still in college

Gone are the days when one had to finish school, college and subsequent years in getting trained to be able to sustain oneself with decent income. Today, what you earn eventually depends upon your skillset and how early you got started to build an expertise in your domain.

Manthan Dudeja, who currently lives in California and is still in his graduation years, understood the perks of starting early and is now a CEO who has worked across a plethora of jobs, from IoS programming to website development and blogging to trying his hand at Amazon Associates.

In conversation with this dynamic entrepreneur, let’s decode the various options for freshers to make a side income while they are still in school/college –

  • Content writer/Editor

Manthan explains how he started off by writing for blogs with whatever knowledge he had and with the help of internet, this could be by either writing for your own online blog, for instance Manthan was interested in Tech, so he was writing for his blog ‘TechCrack‘ or for someone else in the capacity of a content writer.

It’s not difficult to get started if you have the basic understanding to develop a ‘flow’ while writing a piece and the skill to write what suits your target audience.

  • Software developers/ Programmers/ Coders – Today, software/app developers are earning more than the average of $60 an hour by working remotely. There are a host of online paid/free platforms providing trainings to acquire such skills, Manthan has been an app/website developer for the longest time and by far, this skill has given him the best results for his work.
  • Digital Marketer/ E-Marketer-

Your journey to become a digital marketer starts the day you take the step of self-educating yourself and learning the tricks to attract potential customers either by way of Google, Facebook, or any other digital platform by a host of scalable ways on the internet, undoubtedly, digital marketing is the hottest online work from home concept of this decade.

Manthan is today a successful digital marketer who has equipped himself with the advanced knowledge of online ads on various mediums and has effectively used these skills to generate incredible revenue over time.

These are some of the best ways to get started, according to Manthan, all

 

Sponsors Posts

2 BHK Residential Apartment for Sale in Aadhya Hills Bhita Jabalpur

2 BHK Residential Apartment for Sale in Aadhya Hills Bhita Jabalpur
Aadhya Hills is one of the residential development. It offers spacious and skillfully designed apartments. The project is well equipped with all modern amenities to facilitate the needs of the residents.
  • Property type: Residential Apartment 
  • Offer type: For Sale 
  • City: Jabalpur 
  • Zip Code: 482001 
  • Locality: Bhita 
  • Landmark: Bhita 
  • RERA Registration Number: P-JBP-18-1599 

For more details please click here or visit bhaskarproperty.com

LEAVE A REPLY

Please enter your comment!
Please enter your name here