This is a case study of mergers and acquisitions both in the steel industry. Tata Steel Ltd. (TSL) acquired Bhushan Steel Ltd in the year 2018 under the Insolvency and Bankruptcy Code (IBC) of 2016 and renamed it Tata Bhushan Steel Ltd. (TBSL). Tata Steel has acquired a 72.65% share in BSL and paid the accepted corporate bankruptcy expenses as well as employee dues, as required by the IBC. Bhushan Steel was one of the few companies among the 12 recommended by the RBI under the Insolvency and Bankruptcy Code to be resolved. In a general sense & in the context of doing business in India, it is always in the best interest of a corporate to acquire an asset rather than build it from scratch, especially for a greenfield project.
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