Experts warn against Bhushan regime change

AHEAD OF THE August 7 hearing in the Supreme Court concerning Bhushan Power & Steel (BPSL), several insolvency experts believe the most prudent course would be to allow the current management to continue operating the company.

- MANU KAUSHIK

JSW Steel, which acquired BPSL for ₹19,700 crore, has been managing it as a subsidiary since 2021. "The transaction happened over four years ago, and the company is doing well and making profits. BPSL's creditors are also satisfied with the current management. In the present situation, it is likely that JSW Steel's transaction will not be disturbed, and the company will continue to run as it has been," said a senior insolvency expert.