Without divulging the details of the bid offer made by the consortium of Aion Capital and JSW Steel, a source in the know of the development said, "the creditors committee may meet again in two to three weeks and take a call on the offer."
"The discussion on the resolution plan for Monnet Ispat is in progress and legal advisors are reviewing the offer," the source said.
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When contacted, a JSW Steel spokesperson declined to comment on the development.
Monnet Ipsat is among the 12 defaulters referred by the Reserve Bank of India (RBI) for insolvency proceedings.
Monnet Ispat & Energy Ltd (MIEL), has a de-risked business portfolio that encompasses manufacturing and marketing of sponge Iron, steel and ferro alloys. The company is also engaged in mining of minerals like coal and iron ore.