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Why these 5 steel majors need to cough up Rs 29,000 crore

Why these 5 steel majors need to cough up Rs 29,000 crore
The recent amendments to the IBC practically barred promoters from re-acquiring their own assets, leaving only a small window to convert their non- performing assets into standard assets by paying the overdues. Promoters of five steel majors undergoing insolvency resolution will have to cough up a total of at least Rs 29,000 crore to be eligible to submit bids and retain their companies.   Some other companies trying to resolve their bad loans under the Insolvency and Bankruptcy Code ...
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