SFIO arrests a Promoter of Bhushan Steel Limited

Serious Fraud Investigation Office (SFIO) has arrested Neeraj Singhal, Promoter and MD of Bhushan Steel Limited. He was found guilty of indulging in serious corporate fraud punishable under Section 447 of the Companies Act, 2013. The investigation was assigned by the Ministry of Corporate Affairs to SFIO based on the complaints received from various sources. He was sent to Judicial Custody till August 14, 2018.