Complex sentence: Naveen Jindal is the Chairman of Jindal Steel and Power Limited (formerly known as Jindal Strips Limited) which was a moderately performing enterprise when Naveen Jindal first took over its Raigarh and Raipur operations in 1993.
Split into simpler sentences: Naveen Jindal is the Chairman of Jindal Steel and Power Limited (JSPL). JSPL (earlier known as Jindal Strips Limited) was a moderately performing enterprise when Naveen Jindal first took over its Raigarh and Raipur operations in 1993.