Tata Steel Mining gets successful resolution applicant for Rohit Ferro-Tech

Tata Steel Mining Limited (TSML) has been declared as the successful resolution applicant by the creditors of Rohit Ferro-Tech Limited, steel major Tata Steel said on Sunday.

Tata Steel Mining Limited is a wholly-owned subsidiary of Tata Steel.

In a BSE filing, Tata Steel said, "TSML has been declared as successful resolution applicant by the Committee of Creditors for acquisition of Rohit Ferro-Tech Limited on June 5, 2021, subject to it obtaining necessary regulatory approvals including approval from the National Company Law Tribunal."

TSML has accepted the Letter of Intent for acquisition of Rohit Ferro-Tech under the Corporate Insolvency Resolution Process of the Insolvency and Bankruptcy Code 2016, the steel maker said without elaborating further.