CURRENT AFFAIRS

2018

Please wait while the activity loads.
If this activity does not load, try refreshing your browser. Also, this page requires javascript. Please visit using a browser with javascript enabled.

If loading fails, click here to try again

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Which steel To Acquire Bhushan Steel Through Its Step-Down Subsidiary Bamnipal Steel?

A	Tata Steel
B	Bajaj Steel
C	Ashok Leyland
D	Birla Steel company

Explanation:

Detailed explanation-1: -Tata Steel has acquired Bhushan Steel (BSL) through its wholly-owned subsidiary Bamnipal Steel Ltd (BNL) through a resolution under the Insolvency and Bankruptcy Code (IBC).

Detailed explanation-2: -Tata Steel Ltd. (TSL) acquired Bhushan Steel Ltd in the year 2018 under the Insolvency and Bankruptcy Code (IBC) of 2016 and renamed it Tata Bhushan Steel Ltd. (TBSL). Tata Steel has acquired a 72.65% share in BSL and paid the accepted corporate bankruptcy expenses as well as employee dues, as required by the IBC.

Detailed explanation-3: -JSW Steel on Friday said it has paid Rs 19, 350 crore to the financial creditors of Bhushan Power & Steel Ltd towards implementation of the resolution plan for acquiring the company. With the move, JSW Steel has closed the acquisition of Bhushan Power & Steel Ltd (BPSL).

Detailed explanation-4: -Tata Steel Ltd. (TSL) acquired Bhushan Steel Ltd under Insolvency and Bankruptcy Code (IBC), 2016 in the year 2018 and named as Tata Bhushan Steel Ltd. (TBSL).

There is 1 question to complete.