Thursday, Apr 25 2024 | Time 01:39 Hrs(IST)
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Business Economy


Vedanta acquires Electro Steel Plant of Bokaro

Bokaro, Apr 23(UNI) The Vedanta Group has acquired the Electro Steel Plant located at under Chandankiyari block of this district.
Official sources here today said that as per the directions of the National Company Law Tribunal which declared Electro steel bankrupt and therefore the plan has been acquired by Vedanta Group at a cost Rs 5320 crore.

Sources said that a five-member committee of Vedanta would now be handling the affairs of the company which include three bankers and two Vedanta officials. Electro steel is also involved in legal dispute for land acquisition with the forest and the environment department with the matter being pending at the local court level.
UNI XC-AK KK
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