Electrosteel receives resolution plans from Renaissance Steel, Tata Steel and 2 others
Electrosteel Steels Ltd informed the stock exchanges on Tuesday that the company has received resolution plans from Renaissance Steel India Pvt Ltd, Tata Steel Ltd, Vendanta Ltd and Edelweiss Alternative Asset Advisors Pte Ltd.
Electrosteel is one of the 12 companies referred to the National Company Law Tribunal (NCLT) for insolvency proceedings.
Dhaivat Anjaria of PwC is the resolution professional in-charge of the Electrosteel insolvency process.
Economic Times had reported on Tuesday that Vedanta has put in the highest bid worth Rs4,500 crore for the bankrupt company.