Govt reviewing SC order on Bhushan Power and Steel: DFS Secy M Nagaraju

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Govt reviewing SC order on Bhushan Power and Steel: DFS Secy M Nagaraju - Business Standard

Quick Summary:

According to Kotak Institutional Equities, the legal options available to JSW Steel appear limited; however, the liquidation process could face delays due to litigation and result in prolonged adjudication.

The banks will have to refund the money they received from the resolution of Bhushan Steel, for which they must make provisions in the current quarter.

After receiving RBI clearance, the shortlisted bidders were granted access to IDBI Bank’s data room.Currently, LIC owns 49.24 per cent of IDBI Bank, while the government owns a 45.48 per cent stake in the private sector lender.