 "steel")
The committee of creditors (CoC) for Bhushan Power & Steel on Monday decided they would vote on Tata Steel’s resolution proposal on Tuesday.
If the plan is approved by the creditors, a letter of intent will be issued to the company and the resolution plan will be filed with the National Company Law Tribunal (NCLT) for approval.
Tata Steel is understood to have offered Rs 175 billion as upfront payment to financial creditors. The total bid value, however, is around Rs 245 billion, which includes capital infusion of Rs 70 billion. Bhushan Power & Steel has a capacity of
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