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JSW Steel sees mettle in bankrupt asset amid upturn in steel market

An upturn in the steel market has prompted the country's third-largest steel producer to up the ante on acquiring Bhushan Power

Topics
JSW steel | Bhushan Power & Steel | Insolvency and Bankruptcy Code

Ishita Ayan Dutt  |  Kolkata 



jsw steel
The acquisition of debt-ridden BPSL would give JSW Steel a three-million-tonne asset at a time when the steel cycle has turned for the better

It’s unusual for a successful resolution applicant to try and implement a resolution plan with the overhang of two legal threats before the Supreme Court. But hectic parleys are on between and lenders to (BPSL) to close a Rs 19,700-crore deal and bring down the curtains on a more than three-year-old corporate insolvency resolution process (CIRP).

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First Published: Thu, December 10 2020. 06:10 IST

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