Tata Steel has gained over ₹5,000 crore generated by Bhushan Steel during the insolvency period stretching over 18 months.
This contrasts with the National Company Law Tribunal (NCLT) ruling that the profit made by Bhushan Power and Steel, another insolvent company, during the insolvency period, should be distributed among financial and operational creditors.
JSW Steel’s appeal
JSW Steel, the winning bidder of Bhushan Power, had moved the National Company Law Appellate Tribunal (NCLAT) against the NCLT order.
As of May 18, the current as sets of Bhushan Steel stood at ₹7,909 crore while its current liabilities were ₹2,742 crore. Therefore, the net current assets which Tata Steel had bagged after the insolvency proceeding were ₹5,168 crore.
Bu hikaye The Hindu Business Line dergisinin October 04, 2019 sayısından alınmıştır.
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Bu hikaye The Hindu Business Line dergisinin October 04, 2019 sayısından alınmıştır.
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