+
 NCLT approves resolution plan for acquiring Ferro-Tech
Steel

NCLT approves resolution plan for acquiring Ferro-Tech

Tata Steel announced that the Kolkata bench of the National Company Law Tribunal (NCLT) approved the resolution plan by Tata Steel Mining Limited, its wholly-owned subsidiary, to acquire the debt-laden Rohit Ferro-Tech Limited.

On June 6, 2021, Tata Steel reported that the Committee of Creditors (CoC) announced Tata Steel Mining Ltd as the successful resolution applicant for acquiring Rohit Ferro-Tech Ltd under the Corporate Insolvency Resolution Process of the Insolvency and Bankruptcy Code 2016.

Tata Steel announced in a regulatory filing that the NCLT orally pronounced its Order approving the Resolution Plan submitted by TSML for the purchase of Rohit Ferro-Tech Limited on April 7, 2022.

Meanwhile, Tata Steel did not provide any more information on its resolution strategy in the filing.

It is also in between the acquisition process of Odisha-based Stork Ferro and Mineral Industries for Rs 155 crore in an all-cash deal to expand its ferroalloys production capacity.

Tata Steel is an Indian multinational steel-making firm and one of the leading steel manufacturers in India.

Image Source

Also read: NCLT approves composite scheme of APSEZ for SRCPL acquisition

Tata Steel announced that the Kolkata bench of the National Company Law Tribunal (NCLT) approved the resolution plan by Tata Steel Mining Limited, its wholly-owned subsidiary, to acquire the debt-laden Rohit Ferro-Tech Limited. On June 6, 2021, Tata Steel reported that the Committee of Creditors (CoC) announced Tata Steel Mining Ltd as the successful resolution applicant for acquiring Rohit Ferro-Tech Ltd under the Corporate Insolvency Resolution Process of the Insolvency and Bankruptcy Code 2016. Tata Steel announced in a regulatory filing that the NCLT orally pronounced its Order approving the Resolution Plan submitted by TSML for the purchase of Rohit Ferro-Tech Limited on April 7, 2022. Meanwhile, Tata Steel did not provide any more information on its resolution strategy in the filing. It is also in between the acquisition process of Odisha-based Stork Ferro and Mineral Industries for Rs 155 crore in an all-cash deal to expand its ferroalloys production capacity. Tata Steel is an Indian multinational steel-making firm and one of the leading steel manufacturers in India. Image Source Also read: NCLT approves composite scheme of APSEZ for SRCPL acquisition

Related Stories

Gold Stories

Next Story
Infrastructure Urban

KONE Opens India's First Digital Experience Centre in Pune

KONE, a global elevator and escalator manufacturer, has inaugurated its first Digital Experience Centre (DEC) in India, located in Pune. The facility aims to showcase how artificial intelligence (AI), connectivity and data-driven technologies can enhance customer experiences and improve building operations.The centre was inaugurated by Jussi Herlin, Executive Vice Chair, KONE Corporation; Philippe Delorme, President and CEO, KONE; and Nandan Nilekani, Co-founder and Chairman of the Board, Infosys.Designed as an interactive customer environment, the facility demonstrates digital solutions cover..

Next Story
Infrastructure Urban

CII GreenCo Launches Circularity Guidelines for Indian Industry

The Confederation of Indian Industry (CII) GreenCo Council has launched the CII GreenCo Circularity Guidelines – Pilot Version at the 17th CII GreenCo Waste & Resource Management Summit 2026 in Chennai. The initiative aims to strengthen resource efficiency, waste reduction and circular economy practices across Indian manufacturing and process industries.The guidelines introduce a structured framework with circularity indices covering raw materials, consumables, packaging and other resource inputs. These indicators will help industries assess existing practices, identify opportunities to ..

Next Story
Infrastructure Energy

Global Electronics Association Launches IPC-1783-CO2E Standard

The Global Electronics Association has introduced IPC-1783-CO2E, a new international standard aimed at improving consistency, transparency and comparability in product carbon footprint reporting across the electronics manufacturing industry.The standard, titled International Standard for Data Collection and Reporting of CO2 Equivalent (CO2e) Emissions for the Electronics Manufacturing Supply Chain, provides industry-specific guidance for collecting, estimating and reporting carbon emissions data.With increasing regulatory requirements and customer expectations, electronics manufacturers face c..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code