 "The reliefs and concessions sought by JSW were part of the committee of creditors approved resolution plan")
JSW Steel has sought more time to make payment to banks for Bhushan Power acquisition, following the announcement of a moratorium by the Reserve Bank of India (RBI) and a steep fall in global steel prices due to the Covid-19 pandemic, say bankers.
JSW Steel, which made the winning bid to acquire Bhushan Power & Steel (BPSL), says it remains committed to the acquisition.
JSW offered Rs 19,700 crore to banks for BPSL, which was largely funded by taking fresh debts. After a long litigation, the National Company Law Appellate Tribunal gave its green signal in February and lenders were
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