The Department of Financial Services (DFS) has reviewed the Supreme Court order on the liquidation of Bhushan Power and Steel (BPSL), in consultation with the lenders, M Nagaraju, secretary, DFS said in Mumbai on Monday.
“I have already reviewed (the order) with all the lenders. We have taken a position, we have studied the judgement, we have got our advocates’ view on the judgment,” Nagaraju said. He added that the government is taking a view on how to approach the judgment. “We will finalise soon,” Nagaraju added.
Sajjan Jindal-led JSW Steel, the country’s biggest steel producer, has also said it will review the order.
The bankrupt BPSL had been acquired by JSW Steel, nearly five years ago, via the corporate…
