 "Tata Steel")
Tata Steel, one of the largest steel producers in the country, has received formal communication from Resolution Professional of Bhushan Steel identifying it as the highest evaluated compliant resolution applicant to acquire the controlling stake in the latter.
The Committee of Creditors (CoC) of debt-laden Bhushan Steel informed on March 6, said Tata Steel in its release.
Following the development, advisors to the CoC and Resolution Professional of Bhushan Steel are currently in discussions with Tata Steel on the resolution plan, informed the company. The next steps in the process will be as per the stipulations under the Corporate Insolvency
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