Bhushan deal was done in 48-72 hours, reveals Tata Steel CEO T V Narendran

"Normally, one would have taken 10-15 days after the NCLT approval to get things done, but we got it done in 48-72 hours," said Narendran

The Insolvency and Bankruptcy Code (IBC) got a leg-up with Tata Steel’s acquisition of Bhushan Steel, the first big case to be resolved. Tata Steel CEO & MD T V Narendran tells Ishita Ayan Dutt how this deal moved so quickly while others are still mired in controversies. Edited excerpts:

You got the approval from the National Companies Law Tribunal (NCLT) on the 15th, and in three days the deal was concluded. What was the level of preparation?

We had been working on it intensively for the past six months. The team worked hard to ensure funds were lined up. Half of