Monnet Ispat, once one of the country’s foremost steelmakers, ran a successful coal-based sponge iron plant with an annual capacity of 1.5 million tonnes in Chhattisgrah New Delhi: JSW Steel and its promoters have acquired around 88 percent stake in the Monnet Ispat and Energy Ltd following completion of the insolvency resolution proceedings, MIEL said Tuesday. The National Company Law …
Mumbai: A consortium of Aion Investments – JSW Steel, which has won bid to acquire the bankrupt Monnet Ispat & Energy, will pay Rs 2,892 crore to take over the assets, as per the revised resolution plan approved by NCLT. As per the written order, the consortium will make a payment of Rs 2,457 crore to secured financial creditors of …
Mumbai: The AION Capital-JSW Steel consortium has agreed to pay small operational creditors of Monnet Ispat after the dedicated bankruptcy court observed that there is nothing for small vendors in the resolution plan and they need to keep them in mind while acquiring an asset at such an attractive valuation. The lone successful bidder agreed to set aside around ₹ …
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