JSW Steel Ltd, a major private Indian steelmaker, received positive response on Bhushan Power deal as lenders have approved the offer of depositing INR 19,350 cr. in an escrow account within two weeks to takeover BPSL. The deal is supposed to be closed by the end of the month. Further, banks have accepted JSW Steel’s condition of providing indemnity in case of adverse SC order, SteelMint learns from media sources.
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