SC Rejects Tata Steel Pleas to Set it Free from Bhushan Steel Liabilities

SEATTLE (Scrap Monster): The Supreme Court on Monday rejected Tata Steel's appeal seeking clearance from all liabilities related to the erstwhile Bhushan Steel, which it had acquired for ₹35,200 crore through the corporate insolvency resolution process in 2018.

Bhushan Steel under the new management of Tata Steel (TSL) had moved the Allahabad High Court challenging various demand notices issued by the UP government to the tune of over INR 346 crore towards commercial taxes, including Entry Tax and Value Added Tax between 2007 and 2018.

Courtesy: www.economictimes.com