Pursuit of raw material had landed Bhushan Steel in the coal block allocation scam.
Firm terms lenders' move to appoint monitoring agency 'unwarranted'.
UB Group Chairman Vijay Mallya is no longer a member of India's 100 Richest club, even as fortunes of the country's uber-rich have seen a significant growth since last year.
With the stock market entering a bull phase, many believe the Singals can bring in the much-needed equity capital and reduce their debt.
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