Not backing out from buying Bhushan Power: JSW Steel to NCLT


Not backing out from buying Bhushan Power: JSW Steel to NCLT

JSW Steel on Monday told the National Company Law Tribunal (NCLT) that the company is not backing out from the ongoing resolution process of Bhushan Power & Steel (BPSL) despite reports of alleged fraud by its former promoters.

During the proceedings in NCLT, counsel appearing for JSW Steel informed the tribunal that it was anxious about the alleged fraud reports and needs to know what is going inside BPSL.

A two member NCLT bench headed by president justice M M Kumar asked the resolution professional (RP) of BPSL to hand over a copy of the forensic report to JSW Steel. Read More

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