29
Jun
15:23
Electrosteel Steels acknowledges start of bankruptcy proceedings
Electrosteel Steels Ltd. in India has broken its silence on last week’s news of its lenders’ withdrawal of support for the company in a stock exchange filing monitored by Kallanish.
The steelmaker confirms that the lead bank amongst its lenders, the State Bank of India (SIB), has now initiated the corporate insolvency resolution process. The bank has been directed by the lenders to file the appropriate documentation with the National Company Law…
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Anonymous
Very good overview of the weekly steel market.
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