June 05, 2015

Press Release No. 1

News about Bhushan Steel Limited

The media had reports that “Bhushan Steel lenders gives nod for restructuring."

The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the company.

Bhushan Steel Limited has vide its letter inter-alia stated, " that on 15th December 2014, RBI announced a scheme for long term structuring of loans in line with cash flows. The Joint Lenders Forum have agreed to extend the loans of BSL for a tenure of 25 years under the said scheme. However the respective authorities of the banks have to approve the scheme, which is under process with the respective banks. We have received the sanction from some banks only however the sanction from rest of the Banks are still awaited."