JSW Steel seeks immunity from litigation against Bhushan Power

JSW Steel has sought immunity from future litigations against Bhushan Power & Steel for any illegal activity under the previous management amid reports of alleged bank fraud by former promoters of the troubled company undergoing debt resolution process. JSW Steel, whose resolution plan under the Insolvency and Bankruptcy Code has been approved by lenders of Bhushan Power & Steel (BPSL), has approached the National Company Law Tribunal for relief in the wake of a series of fraud cases reported by banks including Punjab National BankNSE -0.60 % and Allahabad BankNSE -1.72 % against BPSL.