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Journal of Emerging Technologies and Business Management

Abstract

Tata Steel Ltd. ( TSL), one of the biggest steel maker in the World, in 2018 the company acquired debt laden Bhusan Steel Ltd. (BSL), in one ofthe major consolidation in Indian steel industry BSL was in news for plethora ofreasons for last many years. BSL was unable to raise fresh cash to run its operations smoothly and its top management, faced enquiries from law enforcing agencies on various counts of omission and commission. Due to inability to pay its creditors, BSL became one of the biggest Non-Per/ormingAsset (NPA) of Indian banking industry. Government of I ndia brought a new_ framework namely Insolvency and Bankruptcy Code (IB C), 2016; resolve the burgeoning NPA o/‘Indian banking sector TSLS acquisition ofBSL is touted as the single biggest successful resolution ofNPA problem, plaguinglndian bankingsector

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