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23
March 2018
 |
Tata Steel(The Total Investment & Insurance Solutions)
Tata
Steel on Friday said it has been declared the successful "resolution
applicant" by the Committee of Creditors (CoC) of Bhushan Steel Ltd (BSL).
In a
regulatory filing to the BSE, the company said the decision was subject to
obtaining regulatory approvals from the National Company Law Tribunal (NCLT)
and the Competition Commission of India (CCI).
"Tata
Steel hereby informs that it has been declared as the successful resolution
applicant by the Committee of Creditors of Bhushan Steel Limited on March 22,
2018, subject to obtaining necessary regulatory approvals, including approval
from the NCLT and the Competition Commission of India," the BSE filing
said.
The
filing added that Tata Steel has accepted the Letter of Intent for BSL under
the Corporate Insolvency Resolution Process (CIRP) of the Insolvency and
Bankruptcy Code 2016 (IBC).The Total
Investment & Insurance Solutions
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