Tata Steel has emerged as the highest bidder to acquire Bhushan Steel, with a bid of Rs.35,000 crore, while JSW Steel was the second highest bidder with a bid of Rs.29,700 crore.

Bhushan Steel in a regulatory filing stated that, the compliant resolution plans were presented to the committee of creditors (CoC) and the resolution plan submitted by Tata Steel, has been identified as the highest evaluated compliant resolution plan.

Further, there will be discussions with Tata Steel on their resolution plan, before it is considered for final approval by CoC.

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