Now, Vedanta eyeing stressed steel assets

Chairman Anil Agarwal says would bid for assets that give return on capital

Ishita Ayan Dutt  |  Kolkata 

Stressed steel assets — currently facing insolvency proceedings under the Insolvency and Bankruptcy Code, 2016 — have now courted interest from natural resources conglomerate Vedanta. “We are not looking at it right now, but whenever it comes up for auction, we will definitely look at it,” Vedanta Resources Plc Chairman Anil Agarwal has said, while making it clear that the firm would only bid for assets that give return on capital. In June, an internal advisory committee, set up by the Reserve Bank of India, had identified 12 defaulters. The RBI had ...

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First Published: Mon, September 04 2017. 01:04 IST