Categories: Business

NCLAT’s allows JSW Steel to acquire Bhushan Power

The National Company Law Appellate Tribunal has approved the Rs 19,700 crore resolution plan of JSW Steel to take over the bankrupt Bhushan Power and Steel. The approval comes with the immunity sought by the new owner against investigations being carried out against the erstwhile promoters of Bhushan Power and Steel.

This comes after the government recently amended Section 32A of the Insolvency and Bankruptcy Code, providing immunity to the bidders and the insolvent company’s assets from the investigation.

Important takeaways for all competitive exams:

  • Chairman of National Company Law Appellate Tribunal: Justice Sudhansu Jyoti Mukhopadhaya.
  • Headquarters of National Company Law Appellate Tribunal: New Delhi.
  • JSW steel Founded: 1982.
  • JSW steel Headquarters: Mumbai, Maharashtra.
  • JSW steel Founder: Sajjan Jindal.

Find More Business News Here

Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.

Leave a Comment
Share
Published by
Sumit Arora
6 years ago

Recent Posts

Tamil Nadu (Cabinet) Ministers List 2026 Released, Check Name and Ministry

Respectable Chief Minister of Tamil Nadu Joseph Vijay has expanded the his government and with…

10 hours ago

RBI Announces Major Liquidity Support Measure Amid Rupee Weakness and Global Market Risks

The Reserve Bank of India (RBI) has announced the $5 billion USD-INR buy/sell swap auction…

11 hours ago

Kerala Launches India’s First Dedicated Cabinet-Level AI Portfolio Under New UDF Government

Kerala become the first Indian state to create a Artificial Intelligence (AI) portfolio at the…

11 hours ago

Maharashtra Becomes No.1 State in Central Government Projects Across India

India is witnessing rapid infrastructure growth through major central government projects spread across different states.…

12 hours ago

ShramMitra App Launched in Haryana to Replace Traditional Labour Chowk System

Government of Haryana has launched the ShramMitra app which is the new platform designed to…

12 hours ago

AI to Power Simhastha 2028 as Madhya Pradesh Partners with Google Cloud India

State government of Madhya Pradesh partnered with the Google Cloud India for the Simhastha Kumbh…

12 hours ago