A man of steel: Vedanta's Agarwal enters steel biz with Electrosteel buy

The successful bid for debt-ridden Electrosteel marks this controversial entrepreneur's first foray into the steel business anywhere in the world

Some nights before he goes to sleep, Anil Agarwal says he dictates memos on a small voice recorder. The next day, he gives it to his secretary for follow up. “At that hour, it is better to record anything that comes to mind otherwise you may forget,” he explains. 

Was bidding for debt-ridden Electrosteel Steels, the first of the 12 indebted companies identified by the Reserve Bank of India for resolution under the bankruptcy code to find a buyer, one of his late-night ideas? For the 65-year-old chairman of the London-based metals and minerals major Vedanta Group, this purchase certainly marks