NPAs...Bhushan Steel Single addition of Rs40000Cr to be decided - TopicsExpress

NPAs...Bhushan Steel Single addition of Rs40000Cr to be decided on 18th Aug Syndicate Bank bribery fall-out The difference of opinion between SBI and other lenders could come to a head at a lenders meeting scheduled for August 18. SBI wants outsiders to watch over company operations while the other lenders regard this as the wrong approach as Bhushan Steel has a strong board. Added to that, private sector banks are of the view that Brij Bhushan Singhal, chairman of the steel maker, is a sound manager and still active in running the company . “Bhushan Steel is a running company and a standard asset on the banks book,“ said the managing director and chief executive officer of a private sector bank. “This is an unfortunate incident that has happened. Brij Bhushan Singhal, promoter of the company, is still active in management, so I dont see any reason to hire an agency to oversee the operations of the company .“ ET

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