Mumbai:JSW Steel Ltd expects to be compensated adequately if Bhushan Power & Steel Ltd (BPSL) goes into liquidation after the Supreme Courtscrapped its resolution plan for the bankrupt company.
The steelmaker said its agreement with the erstwhile creditors of Bhushan Power entitled it to compensation covering the value of the assets on its balance sheet in case of BPSL’s liquidation. JSW Steel acquired Bhushan Power through the bankruptcy court in March 2021.
JSW Steel held net assets worth ₹14,091 crore related to BPSL on its consolidated balance sheet as of 31 March.
The company also said it had strong grounds for availing legal…
