JSW Steel aims to turn around insolvent Monnet Ispat in a year

Monnet Ispat will merge with the parent "to sell products under JSW brand"

Sajjan Jindal-led JSW Steel aims to turnaround Monnet Ispat & Energy within one year and merge the entity with the parent.

"We will eventually merge Monnet Ispat into JSW Steel and it will be a JSW brand. Our past experience is normally we turn-around in one year, so we hope that will happen," chairman and managing director Sajjan Jindal told reporters on the sidelines of company's annual general meeting held here today.

The National Company Law Tribunal last week approved sale of insolvent Monnet Ispat & Energy Ltd to a consortium of JSW Steel Ltd-AION Capital who were the sole