TATASTLBSL

The Exchange had sought clarification from Bhushan Steel Limited with respect to a news item captioned "Bhushan Steel creditors ask firm to sell Odisha plant". The Company has clarified that "We have not received any communication regarding selling of Orisha plant from any Creditor, therefore we are unable to comment on news item".

The Exchange has sought clarification from Bhushan Steel Limited with respect to recent news item captioned "Bhushan Steel creditors ask firm to sell Odisha plant". In this regard, Exchange have advised the Company to provide clarification/confirmation on the news item in detail including the following: a) Whether such event/negotiations/article stated in published news were taking place? If so, you are advised to provide the said information along with the sequence of events in chronological order and the material impact of this article on the Company. b) Whether company are aware of any info

The Exchange had sought further clarification from Bhushan Steel Limited regarding recent updates on the news item captioned "CBI Chief was Listening on Jain Bribe Chat". The Company has clarified that "As per Order Mr. Neeraj Singal, Vice Chairman and Managing Director of the Company is in judicial custody till August 29, 2014. The matter is currently under investigation and we are in process of taking appropriate legal recourse as advised".

The Exchange had sought clarification from Bhushan Steel Limited with respect to a news item captioned "CBI Chief was Listening on Jain Bribe Chat". The Company has clarified that "The contents of the article as carried out by Economic Times dated 4th August 2014 are incorrect and denied. Please note that our Company is not involved in any manner with regard to the alleged payments and the same are denied and hence in our opinion would not have any material impact. However the matter is currently under investigation and we are in process of taking appropriate legal recourse as advised".

Bhushan Steel Limited has informed the Exchange vide letter dated January 09, 2013 regarding News Clarification.

Bhushan Steel Limited has informed the Exchange regarding the news item appearing in one of the financial newspaper dated February 07, 2008, titled "Bhushan lines up Rs 26,000 cr for 12 mt capacity in east India". In this regard, the Company has confirmed the Exchange that the Company is setting up projects in the eastern region comprising of West Bengal, Jharkhand and Orissa with total investment around Rs 26,000 Crore to build 12 million tonne capacity as detailed here under: 1) Production Facilities: Backward Integration Hot Rolled Coil project in the State of Orissa; Capacity: 4 Million To

News Verification : The media had reports that Bhushan Steel Limited may dilute its stake to fund expansion plans. The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company. Bhushan Steel Limited has vide its letter inter-alia stated, "In this connection we have to inform that as on date the Company neither has any plan nor had any conversation with any body in the past regarding diluting the stake. There is no substance in t

News Verification : The media had reports that Bhushan Steels & Strips Ltd is set to pick up a 15% stake in Australian exploration company Bowen Energy. The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company. Bhushan Steels & Strips Ltd has vide its letter inter-alia stated, "For supply of coal for our plant at Orissa, the company has entered into MOU with Bowen Energy Limited (BWN) of Australia. In order to ensure regular

Bhushan Steels & Strips Ltd has informed the Exchange regarding the News published on April 28, 2006 in "The Times of India", New Delhi Newspaper for alleged Duty Evasion of over Rs.50 Crore. The news mentioned R. P. Goyal, Director of Bhushan Steel arrested in the last week of March, is out on bail after paying back Rs 4 Crore out of the amount his company is alleged to have swindled. In this connection the company has clarified as follows : "we have to clarify that the name of Bhushan steel has been wrongly mentioned in the news published in the Newspaper. Neither R. P. Goyal is a Director o

Clarification of News : The press had reports that Bhushan Steels & Strips Limited plans to set up a 1.5m tonne (mtpa) integrated steel and power plant in Orissa. The Exchange, in order to verify the accuracy or otherwise of the information reported in the press and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company. Bhushan Steels & Strips Limited has vide its letter inter-alia stated, "We had informed the Exchange that our company is setting up a backward Integration Hot Rolled Coil Project in the State of Orissa. The