18
Apr
12:10
NCLT approves Vedanta acquisition of Electrosteel
Vedanta’s resolution plan to acquire insolvent Electrosteel Steels has been approved by the National Company Law Tribunal (NCLT), Kolkata Bench. The terms of the plan are therefore now binding.
This follows the recent approval of the plan by Electrosteel Steels’ committee of creditors (see Kallanish passim).
Completion of the acquisition is subject to approval from the Competition Commission of India and Securities and Exchange Board of India. Onc…
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Very good overview of the weekly steel market.
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