Approval Of The Resolution Plan Of Tata Steel Limited For Bhushan Steel Limited By The Adjudicating Authority

Dear Sir,

This is in continuation of our letter dated March 23, 2018. As per instructions of the Resolution Professional (RP) team, this disclosure is being made pursuant to Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Upon implementation of the Resolution Plan, BNPL will initially subscribe to approximately 72.65% of the fully paid up equity share capital of the Company.

The outstanding redeemable preference shares of the Company would be purchased by BNPL, and to the extent not transferred to BNPL, would be redeemed by the Company on the Closing Date, in terms of the Resolution Plan.

A copy of the NCLT order dated May 15, 2018, approving the Resolution Plan is enclosed.

This is for your information and records.

Pdf Link: Approval Of The Resolution Plan Of Tata Steel Limited For Bhushan Steel Limited By The Adjudicating Authority

Source : BSE - www.bseindia.com

Published on May 15, 2018

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