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Business Headlines: JSW not backing away from Bhushan in spite of fraud


The recent frauds discovered by Punjab National Bank and Allahabad Bank, perpetrated by the promoters of Bhushan Power & Steel are making things difficult for JSW Steel, which won the bid to acquire Bhushan for ₹ 19,000 crores. JSW however, said that it was not backing out from the ongoing resolution process for now. Once the third largest housing finance company in the country, DHFL is nearly on the verge of collapse. A decline that started around ten months ago, when the defaults of IL&FS led to a liquidity crisis, has not yet seen its bottom in the case of DHFL. #Fraud #PNB #DHFL

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