From debt trap to steely resolve, Bhushan Steel an outlier in IBC landscape

BSL was admitted for insolvency proceedings on July 26, 2017

Apart from being the most successful cases under the IBC, Bhushan Steel and Essar Steel are among the best steel assets in the country. They also ended up helping their lenders get back a significant chunk of the money while allowing Tata Steel to consolidate its position and giving the world’s two largest steel makers — ArcelorMittal and Nippon Steel —  a strong foothold in India. A significant contrast was the pace at which these two cases were resolved under the bankruptcy code

In the Insolvency and Bankruptcy Code (IBC) landscape, Bhushan Steel (BSL) has been an outlier.

With many