Tata Steel has been declared as the successful resolution applicant by the Committee of Creditors (CoC) of Bhushan Steel (BSL) on March 22, 2018, subject to obtaining necessary regulatory approvals, including approval from the NCLT and the Competition Commission of India.
The company has accepted the Letter of Intent for BSL under the Corporate Insolvency Resolution Process (CIRP) of the Insolvency and Bankruptcy Code 2016 (IBC).
Tata Steel, the flagship company of the Tata group is the first integrated steel plant in Asia and is now the world’s second most geographically diversified steel producer and a Fortune 500 Company.
