Explained: How Tata Steel put its soul into debt-laden Bhushan Steel

The Insolvency and Bankruptcy Code, a reform undertaken by the Narendra Modi government, came as a beacon of hope for banks and investors three years ago. While the law still evolves and litigations pile up, many companies have got a fresh lease of life through IBC. The first of a four-part series takes a look at how erstwhile Bhushan Steel is faring as Tata Steel BSL under a new command.
 
When Tata Steel was done with the takeover of the ailing Bhushan Steel (BSL) in Odisha, ramping up Key Performance Indicators (KPIs) was the least of its concerns. BSL