Discover and read the best of Twitter Threads about #BhushanSteel
Most recents (2)
1/n. Against a write off of Rs1.23 lakh crore, @TheOfficialSBI recovered just over 7% or Rs8,969 crore over the past eight FY. #BankLoot moneylife.in/article/sbi-wr… @suchetadalal @Moneylifers Info unearthed by @vvelankar #StopPSBLoot #Thread
2/n @bankofbaroda wrote off 97 accounts worth Rs21,476.89 crore over 8 years, while recovery in that same period is just 4.91% or Rs1,056.53 crore from big defaulters. moneylife.in/article/bank-o… @suchetadalal @Moneylifers Info unearthed by @vvelankar #StopPSBLoot #BankLoot 
3/n @mahabank wrote off bad loans of over Rs7,402 crore in the past years, while recovering a paltry 4% in over eight years from recovery efforts. moneylife.in/article/bank-o… @suchetadalal @Moneylifers Info unearthed by @vvelankar #StopPSBLoot #BankLoot
#Insolvency Almost a year since @RBI released the list of 12 large defaulters to be marched to NCLT, and we have seen ONE successful resolution so far. Two, if you count Electrosteel Steels, which exited bankruptcy briefly, only to be pulled back in. Here's a quick check (1/n)
#Insolvency #BhushanSteel NCLT approved Tata @TataSteelLtd's takeover of Bhushan Steel. Tatas offered Rs 35,200 cr to settle the lenders' dues at a 37% haircut. Done deal? Bhushan Steel promoter Neeraj Singhal has filed an objection in the matter, NCLAT hearing on May 21. #IBC
#Insolvency #ElectrosteelSteels resolution plan submitted by @VedantaLimited for Rs 5,320 cr was approved by NCLT, but Renaissance Steel, another contender for the company, is now contesting the bid. NCLAT has ordered a status quo on sale of the company until further hearing.
