 "The logo of JSW is seen on the company's headquarters in Mumbai. Photo: Reuters")
Sajjan Jindal-owned JSW Steel and Tata Steel have emerged as the two serious bidders for Bhushan Steel as binding bids closed on Saturday. The employees of Bhushan Steel have also submitted an offer for the company. ArcelorMittal said it had not put in a bid for the company.
Bhushan Steel was sent for debt resolution under the Insolvency and Bankruptcy Code after it failed to repay Rs 440-billion debt.
An e-mail sent to Deloitte, the resolution professional for Bhushan Steel, did not elicit any reply.
ArcelorMittal spokesperson said: “ArcelorMittal can confirm it has not bid for Bhushan Steel, but we remain
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