With Rs40,000 cr debt/banks want to run Bhushan Steel

摘要

STATE Bank of India (SBI), along with a consortium of banks that have lent to Bhushan Steel, is looking to bring in a management agency to oversee the running of the company following the arrest of its vice-chairman and managing director Neeraj Singhal by the Central Bureau of Investigation (CBI) on Thursday in connection with a bribery case. Bhushan Steel is a leading manufacturer of secondary steel with an existing capacity of approximately 2 million tones per annum.