PNB Update by Epic Research

To conduct forensic audit of Bhushan Steel



To appoint audit firm as concurrent auditors of Bhushan Steel



Concurrent auditors to monitor cash flow on daily basis



Will appoint lenders’ independent engg to monitor operations of Bhushan Steel



To appoint 3 nominee directors on Bhushan Steel board



Lenders advised Bhushan Steel to monetise non-core assets



Lenders advised Bhushan Steel to bring in equity



Bhushan Steel requested for more time to bring in equity



Bhushan Steel has agreed to monetise non-core assets



Bhushan Steel told lenders professional management of company still intact



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Posted in: Indian Market Tips