05
Feb
11:25
NCLT approves Vedanta amalgamation with Electosteels
The National Company Law Tribunal, Kolkata Bench has approved Vedanta Resources’ amalgamation with Electosteels Limited (ESL), which it acquired in 2018 through the Insolvency Resolution Process. Once the amalgamation becomes effective Vedanta will directly hold 95.48% in ESL.
“The acquisition of ESL fits into Vedanta’s strategy of forward integration; complementing the existing iron ore set-up as well as mines in Jharkhand,” Vedanta says i…
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