Bhushan Steel director Nittin Johari resigns

Bhushan Steel Chief Financial Officer Nittin Johari has resigned as a whole-time director (finance), the company said today.
"This is to inform you Nittin Johari, Whole-Time Director (Finance), has tendered his resignation from the Board of Directors of the company vide his letter date November 17, 2017," Bhushan Steel said in a filing to the BSE.
The company, however, said he has not resigned from his position as the company's CFO and will continue with the post.
The resignation, it said, "was notified by the Committee of Creditors (CoC) of the company in the meeting chaired by the Resolution Professional of the company and held on November 27, 2017".

Bhushan Steel was among the 12 companies which were referred by the Reserve Bank of India to National Company Tribunal Law (NCLT) for insolvency proceedings.
The company has a debt of Rs 44,478 crore.
Various players like the Luxembourg-based ArcelorMittal and Tata Steel are looking to acquire the debt-ridden firm which is going through the insolvency resolution process.
Bhushan Steel, which was referred to the NCLT by the RBI under the Insolvency and Bankruptcy Code, has reported a lower standalone net loss to Rs 467.37 crore during the September quarter, from Rs 980.22 crore in the same period a year ago.