Will JSW Steel close BPSL deal sans SC nod?
December 23, 2020
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Nothing can stop the firm from offering a bit more if all lenders agree: Legal expert
Lenders continue to financially support Bhushan Power and Steel (BPSL) even as its NCLT-approved sale to JSW Steel and the EBITDA of over ₹3,000 crore accumulated during the insolvency period remain contentious issues.
Bankers have been pushing JSW Steel to seal the over 3.5-year-old insolvency case, since the Supreme Court has not stayed the IBC process even while agreeing to hear the petitions filed by the Enforcement Directorate and the BPSL promoter Sanjay Singal.
The Supreme Court had directed the lenders to refund the money to JSW Steel if the verdict goes against the deal.
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