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Tata Steel Receives Income Tax Order on Bhushan Steel Merger
The Statesman Kolkata
|April 05, 2025
Tata Steel received an income tax order on Friday which increases its FY 2019 taxable amount, pertaining to the merger of Bhushan Steel with the Tata Group company back in 2019.
Bhushan Steel has been renamed as Tata Steel BSL Limited, the company stated.
In May 2018, Tata Steel had announced the acquisition of Bhushan Steel, through its wholly owned subsidiary Bamnipal Steel. After this acquisition, a debt of Rs 25,185.51 crore was waived off in favour of Tata Steel BSL Limited (TSBSL). From November 2021, TSBSL and Bamnipal Steel merged with Tata Steel.
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