Investment Guru Stocks Mutual Funds Commodity Currency World Market Expert Advice Free Tips Recommendation

MENU
Navigation

Share

Published on 17/04/2018 4:31:26 PM | Source: IANS

NCLT approves Vedanta`s resolution plan for Electrosteel

Posted in Stock Market| #Vedanta #Stock Market #Mining Sector #Electrosteel Steels Ltd

The National Company Law Tribunal's (NCLT) Kolkata bench on Monday approved Vedanta Ltd's resolution plan for the insolvent Electrosteel Steels Ltd.

During the insolvency proceedings, the debt-laden company's resolution professional had submitted Vedanta's resolution plan before the bench for final disposal after lenders declared it as "successful resolution applicant".

"The approved (by Committee of Creditors) resolution plan shall come into force with immediate effect," the order said.

Vedanta informed stock exchanges that it was declared "successful resolution applicant" under the insolvency process and had received the Letter of Intent. The company also said it had accepted the terms outlined in it.

More Related Stories

All News

When bad is good: KKR looks to lend more, buy Indian NBFCs

The great Indian startup battle: Founders vs Investors

Investors riding the rise in the BSE Realty index may better be watchful

Auto sector slowdown, tech changes a double whammy for auto component firms

Timeline: Jet Airways - How the `Joy of Flying` airline`s dreams soured

From leader to follower: Infosys` troubles have left it far behind TCS

Infosys drafts a new strategy to focus on growth from top clients

Has Maruti Suzuki lost track or is it the whole car industry?

RIL to invest Rs 3 lakh crore in Gujarat in next 10 years : Mukesh Ambani

Foreign investors seen making a comeback in India in 2019

OPEC, allies will hold extra meeting if output cuts `not enough`

Optimism among global investment goods makers lowest in over 6 years


Latest

Savdhaan India host`s debut crime book likely in May

LS polls: Over 50% polling till 3 p.m. in phase 3

PVL: Chennai Spartans to face Vietnamese club in QF

Market Outlook 24 April 2019 - KIFS Trade Capital


© Copyright 2017 - investmentguruindia | All Rights Reserved. | Crafted By - Digi Interface