Uttam Galva Steels Ltd has offered to settle the Rs 5,654 crore loan default by paying 51 percent of the amount upfront to public sector banks so as to abort the auctioning of the company's assets.
PTI
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Uttam Galva Steels Ltd said on Saturday it has received approvals from the BSE and NSE for declassification of world's largest steelmaker ArcelorMittal as a promoter of the company.
"...the company has received the approval of the National Stock Exchange (NSE) and BSE Ltd for declassification of ArcelorMittal Netherlands BV as a promoter of the company," Uttam Galva Steels said in a BSE filing.
Uttam Galva Steels Ltd has offered to settle the Rs 5,654 crore loan default by paying 51 percent of the amount upfront to public sector banks so as to abort the auctioning of the company's assets.