The last few weeks have been hectic but fruitful for international private equity (PE) funds that had bid for stressed assets. To begin with, the committee of creditors (COC) approved a revised joint offer for the assets of Monnet Ispat and Energy from AION Capital and JSW Steel, the sole bidders.
Monnet, which owes the banks over Rs 120 billion, was among 12 companies to be referred to the National Company Law Tribunal (NCLT) for the insolvency resolution process last year. Keeping AION company was Bain Capital, which tied up with Dalmia Bharat to make the highest bid for ...
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First Published: Tue, March 06 2018. 20:04 IST
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