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JSW Steel's resolution plan for Bhushan Power and Steel gets NCLT approval

Capital Market 

JSW Steel announced that the company has received the written order of the Hon'ble National Company Law Tribunal, Principal Bench, dated 05 September 2019, under Section 31 of the Insolvency and Bankruptcy Code, 2016, as amended, approving the resolution plan submitted by JSW Steel in the corporate insolvency resolution process of Bhushan Power and Steel (Resolution Plan).

The Company is presently examining the terms and conditions of approval of the Resolution Plan by the Adjudicating Authority and will determine the next appropriate course of action in this regard.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, September 07 2019. 17:35 IST