Vedanta wins bid to acquire insolvent Electrosteel Steels
Billionaire Anil Agarwal-controlled Vedanta has won the bid to acquire insolvent Electrosteel Steels through India's new bankruptcy process. Vedanta reportedly offered to pay around â¹5,000 crore for the assets of Electrosteel Steels, which owes â¹11,000 crore to its lenders. It was among the first 12 large accounts that the RBI identified last year in June for insolvency resolution.