electrosteel
Vedanta acquires management control of Electrosteel Steels
Vedanta Ltd had last week deposited an upfront amount of Rs 5,320 crore also in the escrow account of Electrosteel Steels Ltd.
NCLAT allows Vedanta to make upfront payment of Rs 5,320 cr for Electrosteel
Electrosteel owes lenders more than Rs 13,000 crore, of which about Rs 5,000 crore is to State Bank of India alone.
CCI approves acquisition of Electrosteel Steels by Vedanta
The statement follows NCLT last month approving the resolution plan submitted by Vedanta Ltd for Electrosteel Steels.
Vedanta gets NCLT nod for Electrosteel takeover
The 270-day resolution deadline stipulated by IBC ended Tuesday.
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