BHUSHAN STEEL LTD. - Clarifies on News item

With reference to the news item appearing in Financial Chronicle dated July 9, 2015, titled "Lenders clear Rs 30,000 cr debt rejig for Bhushan Steel", Bhushan Steel Ltd has Clarified to BSE as under:<BR><BR>"We have already submitted our clarification vide our letter dated June 5, 2015 that the Joint Lenders Forum have agreed to extend the Loans of BSL for a tenure of 25 years under the scheme announced by RBI and the approval of the scheme is under process with the respective banks.<BR><BR>Presently about 70% of the Banks have approved the scheme and sanction from rest of the Banks is under process which is expected within a month or so."