Bhushan Steel is the largest manufacturer of auto-grade steel in India. Photo: ReutersNew Delhi: The resolution plan for Bhushan Steel Ltd was submitted to the National Company Law Tribunal (NCLT) on Wednesday for its approval. In a report dated 7 March, Mint said Tata Steel has emerged as the highest bidder for the debt-ridden steel firm, outbidding JSW Steel Ltd. Tata Steel will also retain the existing employees of Bhushan Steel, said another person familiar with the development. Last week, NCLT had directed the CoC to consider objections raised by Bhushan Steel employees over the bid submitted by Tata Steel in its meeting on 13 March.

Source: Mint March 28, 2018 19:18 UTC