JSW Steel, lenders to BPSL negotiate better deal terms
Mumbai: Lenders to Bhushan Power and Steel Ltd (BPSL) have held talks with JSW Steel Ltd, which had won the stressed steel mill bid under the insolvency code, as the acquirer is not entirely happy with the takeover terms cleared by the bankruptcy court.
Banks are trying to improve the final terms for JSW Steel, which had made two key demands, but were not entertained by the Delhi bench of the National Company Law Tribunal (NCLT).
BPSL’s committee of creditors (CoC) met top company executives this week to arrive at the final terms of the takeover, two people aware of the development said, requesting anonymity.
