3 steel firms with â¹92,000 crore bad loans face bankruptcy
Lenders led by the State Bank of India on Thursday decided to begin insolvency proceedings against Bhushan Steel, Essar Steel and Electrosteel Steels under the new Insolvency and Bankruptcy Code. These three firms together owe over â¹92,000 crore to lenders. They are among the 12 accounts identified by RBI for immediate reference to National Company Law Tribunal (NCLT).