India: JSW offers to pay BPSL lenders INR 19,350 cr by end Mar ’21

JSW Steel Ltd., a major private Indian steel producer, waits for a green signal from lenders for depositing INR 19,350 cr. in an escrow account to takeover BPSL pending SC order. JSW and lenders are also seeking indemnity cover from banks against any unfavourable outcome with the SC’s order. SteelMint learns from media sources. However, JSW Steel declined to comment on the story.