With Tata Steel becoming the largest steelmaker in India, TV Narendran, the company's CEO and Managing Director, is the talk of the town. Reason: The National Company Law Tribunal formally identified Tata Steel as the highest evaluated compliant resolution applicant to acquire the stake of Bhushan Steel under the corporate insolvency resolution process, or CIRP, of the Insolvency and Bankruptcy Code (IBC). The deal makes Tata Steel the largest steel maker in India. Reports suggest that the company has offered close to Rs 348 billion as upfront payment to banks and an additional Rs 12 billion to the operational creditors. In addition, Tata Steel has also offered 12 per cent equity stake to lenders in Bhushan Steel, who owe Rs 444.78 billion.