The Serious Fraud Investigation Office (SFIO) has arrested Neeraj Singhal, erstwhile promotor of Bhushan Steel Ltd in relation to siphoning of funds.
Neeraj Singhal is accused of siphoning off more than ₹ 2,000 crores of funds from loans availed by Bhushan Steel via the use of more than 80 companies, the Finance Ministry says.
Singhal was produced before the court of Competent Jurisdiction yesterday and will remain in Judicial Custody till August 14, 2018. This is the . . .
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