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Further, Bhushan Energy (BEL), a subsidiary of the Company, is also named as an accused in the Complaint and has also received Summons in relation to the Complaint to appear before the Special Court on 08 November 2019.
The Complaint and Summons arises from the investigation initiated by The Ministry of Corporate Affairs, Government of India (through the SFIO), into the affairs of the Company vide its order dated 03 May 2016 relating to issues which arose prior to the acquisition of the Company by Bamnipal Steel, a wholly owned subsidiary of Tata Steel, through the Corporate Insolvency Resolution Process.
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