Pursuit of raw material had landed Bhushan Steel in the coal block allocation scam.
With the stock market entering a bull phase, many believe the Singals can bring in the much-needed equity capital and reduce their debt.
In what could mark the end of a bull run, flat steel producers are likely to cut prices from June.
India Inc has welcomed Prime Minister Manmohan Singh taking control of the finance portfolio after P Chidambaram was named as the home minister, saying the country will stand to benefit at this crucial juncture.
The judge had on Wednesday dismissed the anticipatory bail plea of Singal.
Special CBI Judge Swarana Kanta Sharma observed that the accused was 'concealing himself' and despite issuance of non bailable warrants against him twice, he could not be arrested by the probe agency.
Earlier, a special CBI court had issued non-bailable warrants against Neeraj Singal, Vice Chairman and Managing Director of Bhushan Steel Ltd, and Purushotam Totlani, an alleged middleman, in connection with the Syndicate Bank bribery case.
SBI Caps readies plan, identifies 4 assets; bankers say there are enough bidders.
Lawyer of both the accused, asserted that CBI's case against both his clients was merely on the basis of recorded conversations allegedly intercepted by the agency.
Firm terms lenders' move to appoint monitoring agency 'unwarranted'.
Essar group, Bhushan Steel and JSW group likely to be impacted by changes
As industrialist Vijay Mallya fights his wilful defaulter tag, former CAG Vinod Rai has said Kingfisher Airlines' loan default is just a "trickle" and the overall problem of huge bad loans at public sector banks can be blamed on 'cronies' using connections to borrow money.
LIC, ICICI Bank, PNB to have nominees on board; firm asked to sell non-core assets.
Markets shrugged off RBI's neutral stance on key policy rates.
State Bank of India's push among fellow bankers to appoint an external agency to run debt-heavy Bhushan Steel might not be smooth sailing.
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.
