Bhushan Steel lenders to take a call on course of action soon
Following the Supreme Court's rejection of JSW's acquisition of Bhushan Power & Steel due to irregularities, lenders, including Punjab National Bank, are set to decide on their next steps. PNB, having received approximately Rs 3,000 crore from the BPSL transaction, reported a significant jump in net profit, driven by business growth and recoveries. The bank plans further expansion with new branches and staff recruitment.
Following the Supreme Court's rejection of JSW's acquisition of Bhushan Power & Steel due to irregularities, lenders, including Punjab National Bank, are set to decide on their next steps. PNB, having received approximately Rs 3,000 crore from the BPSL transaction, reported a significant jump in net profit, driven by business growth and recoveries. The bank plans further expansion with new branches and staff recruitment.
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