IBC: In spite of NCLT approval litigations are cropping up, says JSW Steel chief
JSW Steel move on fresh capacity addition with huge învestments comes at a time when steel demand in the country has plunged and the economy is limping. Uncertainty over plan to acquire Bhushan Power and Steel has added to its woes. In an interview with BusinessLine, Seshagiri Rao, Joint Managing Director, JSW Steel expressed confidence that the company’s focus on value-added products will help it sail through the trough. Excerpt:
Is arbitrary modification of your resolution plan for Bhushan Power and Steel by NCLT a concern?
The issues raised by us with NCLAT seeking immunity from ongoing criminal investigation against the erstwhile promoter of BPSL and retaining profit in the company during the insolvency period is important not only for us but for other successful bidders.
