CURRENT AFFAIRS

Detailed explanation-1: -Both these acquisitions were done under the Insolvency and Bankruptcy Code. National Steel and Agro, promoted by Santosh Shahra, is engaged in making steel and exporting agricultural products such as rice, wheat and soybean.

Detailed explanation-2: -MUMBAI: JSW Energy will acquire the renewable portfolio of Mytrah Energy for Rs 10, 531 crore in what will be its biggest M&A ever. The deal leapfrogs JSW’s power generation capacity by more than 35% to 6.5 gigawatts (GW) and pushes it towards net zero emissions.

Detailed explanation-3: -Mumbai: Sajjan Jindal led steelmaker JSW Steel Ltd on Friday said that it has closed the acquisition of bankrupt Bhushan Power & Steel Ltd (BPSL) in a transaction that will see payment of Rs19, 350 crore to BPSL’s lenders, the company said in a filing to stock exchanges.

Detailed explanation-4: -JSW Steel Ltd was originally incorporated as Jindal Vijayanagar Steel Ltd on March 15 1994. During the year the company entered into a technical arrangement with Voest Alpine Industrieanlagenbau (VAI) for technical details with respect to productivity iron ore technical details etc.