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Thursday 5 September 2019

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NCLT approves JSW Steel's bid for Bhushan Power

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The National Company Law Tribunal (NCLT) on Thursday approved JSW Steel's Rs 19,700 crore resolution plan for debt-ridden Bhushan Power & Steel Ltd (BPSL). A two-member principal bench of the NCLT headed by president Justice M M Kumar has also said the criminal cases against the promoters of BPSL for siphoning of the funds from the company will not impact JSW Steel as its new promoter.

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