20
Jul
13:25
NCLT approves JSW/AION joint takeover of Monnet Ispat
The National Company Law Tribunal (NCLT), Mumbai Bench, has approved the resolution plan for the joint takeover of Monnet Ispat and Energy (MIEL) by AION Investments and JSW Steel. The plan was approved with modifications, JSW Steel says without providing details.
Monnet’s creditors approved the joint resolution plan in April (see Kallanish passim).
MIEL produces up to 1.5 million tonnes/year of plate, rebar and structural steel. It possesses its own ir…
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