Bhushan Steel - An external to manage day to day functioning

Scandal Hit steel company, Bhushan Steel has borrowed Rs. 40000 crore from a consortium of 51 Banks which is headed by PNB. Recently after Syndicate Bank's bribe case, the company is again in lime light. CBI is keeping an eye over its management and transactions taking place. Comapny's shares has already fallen down 44% showing fear amongst investors. Out of Rs. 40000 crore, the biggest bank of India, SBI, has exposure of Rs. 6000 crore to the company in question. Now, SBI is looking for a management agency to run the company to safeguard the exposure of consortium finance. For this, SBI is also seeking an approval of consortium lenders.