Operational creditors of Bhushan Power may halt work at Jharsuguda plant

The creditors are appealing against the payment of dues to the tune of Rs 1.5 billion to Rs 2 billion by post-dated cheques

Around 1,200 operational creditors of Bhushan Power and Steel plan to bring the company’s Jharsuguda plant to a stand-still.

Operational creditors of the debt-ridden company told Business Standard they would ensure there was no movement of raw material or finished goods.

The plant has a capacity of 3.5 million tonnes per annum.  

According to operational creditors, this was their way of protesting against the resolution plan proposed for the company. “With the proposed plan, operational creditors will get only seven to eight per cent of their dues. All of us will have to shut shop if these dues are not