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.

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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.

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Sumit Arora
6 years ago

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