 "Bhushan Power, jsw steel, Bhushan Power insolvency, Bhushan Power and steel, Bhushan Power bidding, NCLT, Tata Steel, Insolvency and Bankruptcy Code")
Voting on JSW Steel's revised offer of Rs 193.50 billion for Bhushan Power & Steel, currently going through the insolvency process, started on Monday. The results of the voting may be known by Tuesday, sources said.
In the second round of bidding, JSW had submitted the highest offer at Rs 193.50 billion, up from Rs 110 billion submitted in February. Bhushan Power owes its lenders around Rs 470 billion.
The other offers are somewhat like this: Tata Steel is at Rs 166 billion and Liberty House at Rs 185.90 billion.
Sources said lenders decided to go ahead with the voting
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