SFIO arrests Bhushan Steel former promoter Neeraj Singhal

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Serious Fraud Investigation Office (SFIO) has made its first arrest. Neeraj Singal, erstwhile Promoter SOTN-REMOVE Managing Director of Bhushan Steel Ltd. has been arrested by SFIO. He was produced before Court of competent jurisdiction today SOTN-REMOVE sent to judicial custody till 14th August 2018. He is accused of siphoning off funds of over Rs 2000 crore from the loans availed by Bhushan Steel Limited using more than 80 companies.