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JSW Steel Seeks Time to pay for Bhushan Power & Steel

Steel News - Published on Thu, 21 May 2020

Image Source: JSW Steel BPSL
Business Standard reported that JSW Steel has sought more time to make payment to banks for Bhushan Power acquisition. JSW offered INR 19,700 crore to banks for BPSL, which was largely funded by taking fresh debts. After a long litigation, the National Company Law Appellate Tribunal gave its green signal in February and lenders were expecting a debt resolution in the March quarter. But as the pandemic hit the Indian economy in March, the company decided to take advantage of the RBI’s moratorium on loans and defer repayments.

JSW Steel says it remains committed to the acquisition.

Source :

Posted By : Yogender Pancholi on Thu, 21 May 2020
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