JSPL on recovery path amid insolvency turmoil in sector

Jindal aims to shed Rs 45,500-cr consolidated debt by 2020

Naveen Jindal-promoted Jindal Steel and Power Ltd (JSPL) is looking at a recovery after paying back more than Rs 10,000 crore in interest and Rs 6,000 crore in principal to its lenders since 2014. This is at a time when steel firms, barring three majors, are in a troubled phase.

Since the beginning of 2016, JSPL sold a series of assets and increased its production capacity. “While other companies are with the National Company Law Tribunal for insolvency proceedings, we are looking forward to be out of the joint lenders’ forum (that oversees stressed banking assets),” Jindal said in an