New Delhi, May 7 (PTI) Lenders to Bhushan Steel and Power Ltd (BSPL) will in next few days decide on options including seeking a review of the Supreme Court verdict to scrap sale of the company through insolvency process to JSW Steel, Punjab National Bank MD and CEO Ashok Chandra said on Wednesday.
A group of lenders led by PNB had claimed Rs 47,204 crore as unpaid loan and following the default, lenders dragged BSPL to insolvency proceeding. JSW Steel emerged the successful bidder for BSPL, offering Rs 19,700 crore.
As per the Supreme Court decision, BSPL has to be liquidated, which may potentially fetch lower value for the company.
“We are in touch with member lenders and we are going to have meeting in the…
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