Ruias propose to retain Essar Steel, offers ₹54,000cr to lenders | Editorji
  1. home
  2. > business
  3. > Ruias propose to retain Essar Steel, offers ₹54,000cr to lenders
replay trump newslist
up NEXT IN 5 SECONDS sports newslist
tap to unmute
00:00/00:00
NaN/0

Ruias propose to retain Essar Steel, offers ₹54,000cr to lenders

Oct 26, 2018 13:13 IST

After Committee of Creditors voted in favour of Arcelor Mittal's 42,000 crore bid for Essar Steel, the Ruias have proposed a stunning bid of 54,389 crore rupees to retain the debt-laden company. The proposal was made under Section 12A of the Insolvency and Bankruptcy Code with the Ruias offering to go up to 60,000 crore rupees to lenders. However, ArcelorMittal has said that IBC's Section 12A doesn't apply to the resolution process of the embattled company.

Business

Wipro's $1.45 bn UK acquisition

Mar 05, 2021 06:57 IST