JSW Steel might not be 'done and dusted' with insolvent Essar Steel

It appears there are certain parties in India who would like to see that the IBC is not implemented according to the law

JSW Steel’s interest in insolvent Essar Steel does not seem over.

“It’s not done and dusted. It’s not over till it’s over,” said Sajjan Jindal, chairman, JSW Group, in an interview to BloombergQuint, at the prospects of a partnership with the Ruias for Essar Steel.

Adding: “There could be. There is a possibility. Whatever deal will happen, it will happen upfront.” Jindal is in Davos, Switzerland, for the World Economic Forum meet.

JSW Steel was in the race for Essar as an investor in a step-down subsidiary of Numetal, in which Rewant Ruia, part of the promoter family, had a