<p class="title">Steel tycoon Sajjan Jindal on Saturday congratulated Tata Group Chairman Emeritus Rata Tata and Senior officials on the successful acquisition of bankrupt Bhushan Steel.</p>.<p class="bodytext">He also exuded confidence that the Tata Group will "nurture" the good quality asset.</p>.<p class="bodytext">Tata Steel Ltd has won the bid to acquire debt-laden Bhushan Steel Ltd (BSL) in an insolvency auction. The bankrupt firm was among the 12 stressed assets the RBI had referred to NCLT proceedings last year.</p>.<p class="bodytext">"Congratulations to #TVNarendran #NChandra @RNTata2000 and @TataCompanies for the successful acquisition of #BhushanSteel. It's always gratifying when a good quality asset goes into the hands of an institution which will nurture it and build it further," Jindal said in a tweet.</p>.<p class="bodytext">On Friday, Tata Steel said it has successfully completed the acquisition of controlling stake of 72.65% in Bhushan Steel Ltd (BSL) through its wholly-owner subsidiary Bamnipal Steel Ltd (BNPL).</p>.<p class="bodytext">"BNPL has successfully completed the acquisition of controlling stake of 72.65% in BSL in accordance with the approved resolution plan under the Corporate Insolvency Resolution Process (CIRP) of the Insolvency and Bankruptcy Code 2016 (IBC) which has been managed by Vijaykumar V lyer, Partner, Deloitte Touche Tohmatsu India LLP, in his capacity as the resolution professional," Tata Steel said in a statement. </p>
<p class="title">Steel tycoon Sajjan Jindal on Saturday congratulated Tata Group Chairman Emeritus Rata Tata and Senior officials on the successful acquisition of bankrupt Bhushan Steel.</p>.<p class="bodytext">He also exuded confidence that the Tata Group will "nurture" the good quality asset.</p>.<p class="bodytext">Tata Steel Ltd has won the bid to acquire debt-laden Bhushan Steel Ltd (BSL) in an insolvency auction. The bankrupt firm was among the 12 stressed assets the RBI had referred to NCLT proceedings last year.</p>.<p class="bodytext">"Congratulations to #TVNarendran #NChandra @RNTata2000 and @TataCompanies for the successful acquisition of #BhushanSteel. It's always gratifying when a good quality asset goes into the hands of an institution which will nurture it and build it further," Jindal said in a tweet.</p>.<p class="bodytext">On Friday, Tata Steel said it has successfully completed the acquisition of controlling stake of 72.65% in Bhushan Steel Ltd (BSL) through its wholly-owner subsidiary Bamnipal Steel Ltd (BNPL).</p>.<p class="bodytext">"BNPL has successfully completed the acquisition of controlling stake of 72.65% in BSL in accordance with the approved resolution plan under the Corporate Insolvency Resolution Process (CIRP) of the Insolvency and Bankruptcy Code 2016 (IBC) which has been managed by Vijaykumar V lyer, Partner, Deloitte Touche Tohmatsu India LLP, in his capacity as the resolution professional," Tata Steel said in a statement. </p>