Ahead of the August 7 hearing in the Supreme Court on the Bhushan Power & Steel (BPSL) matter, many insolvency experts feel that the best- case scenario for the company and all stakeholders would be one where the current management is allowed to run the company.
JSW Steel, which acquired BPSL for Rs 19,700 crore, has been running the company as its subsidiary since 2021. “The transaction happened over 4 years ago, and the company is doing well and making profits. BPSL’s creditors are also satisfied with the current management. In the present situation, it is likely that the JSW Steel’s transaction will not to disturbed, and the company will continue to run as it has been,” said a senior insolvency expert.
