Lenders to Bhushan Power and Steel have intimated to JSW Steel that they would take “appropriate steps” if it does not implement the resolution plan for BPSL in two weeks, among them the invoking of guarantees. A letter dated June 20 was sent to JSW Steel as the company is yet to pay the `19,350 crore, as per the court-approved resolution plan, persons close to the development told FE.
