 "Steel")
Edelweiss Asset Reconstruction Company has joined the race to buy Monnet Ispat & Energy’s assets after JSW Steel presented a resolution plan asking lenders to take a 72 per cent haircut on the company’s Rs 8,900-crore debt. Till now, JSW Steel was the only company to have submitted a resolution plan.
According to a source close to the development, Edelweiss has already submitted its expression of interest and would be presenting a resolution plan in the coming days. The last date for Monnet Ispat will be extended as lenders are not happy with JSW Steel’s offer. Monnet Ispat plans to
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