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Nclt Approves Tata Steel's Bid For Bhushan Energy; Rejects Objections | Business Standard News

by business-standard.com posted 2weeks ago 14 views
As part of the plan, Tata Steel will offer an upfront payment of Rs 730 crore. : The principal bench of the National Company Law Tribunal (NCLT) on Thursday approved Tata Steel’s nearly Rs 800-crore bid to acquire Bhushan Energy. The NCLT, while approving this bid, also rejected Bhushan Energy’s former promoter Neeraj Singhal’s objections to Tata Steel’s bid for the debt-laden company. As part of the plan, Tata Steel will offer an upfront payment of Rs 730 crore, while it will pay an additional Rs 50 crore to operational creditors of the company.

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