Business Standard

Jindal Steel's units in South Africa file for bankruptcy protection

Business-rescue practitioners for the unit have scheduled a meeting with creditors today

.
Premium

Paul Burkhardt and Loni Prinsloo | Bloomberg
South African units of Jindal Steel & Power Ltd. filed for a local form of bankruptcy protection known as business rescue this month.

Jindal Mining SA, Jindal Africa Investments and Eastern Solid Fuels filed notice of the voluntary proceedings on June 12, according to documents posted on Jindal Africa’s website. A spokesman for the company didn’t immediately reply to emails seeking comment.
 
Jindal Mining SA’s main business is coal production at the Kiepersol mine, according to one of the documents. Business-rescue practitioners for the unit have scheduled a meeting with creditors for June 26.
 
Jindal Africa also has operations in Botswana,

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in