15
May
21:14
Tata Steel wins approval for Bhushan resolution plan
India’s Tata Steel has confirmed in a stock exchange statement that the National Company Law Tribunal (NCLT) has approved the resolution plan submitted by Tata for acquiring the controlling stake in Bhushan Steel.
“As per the terms of approved Resolution Plan, Bamnipal Steel Limited (BNPL), a wholly-owned subsidiary of Tata Steel, will initially subscribe to 72.65% equity share capital of BSL at face value, i.e. at INR 2 per share, for an aggregate a…
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