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Tata Steel, Vedanta, Edelweiss ARC, and Renaissance Steel India are likely to have submitted resolution plans for Electrosteel Steels, one of the 12 companies mandated by the Reserve Bank of India (RBI) for insolvency.
The last date for submitting resolution plans was Thursday.
A Tata Steel spokesperson said: “As a process, we do assess and evaluate various strategic opportunities for growth. This is an ongoing process in the company.” An e-mail sent to Vedanta went unanswered while Edelweiss did not comment.
Electrosteel Steels has got a 90-day extension from the National Company Law Tribunal (NCLT), and it is with effect from January 17,
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