Electrosteel first large bad loan account to be resolved
Electrosteel Steels has become the first of the twelve large bad loan accounts to be resolved under the Insolvency and Bankruptcy Code. The National Company Law Tribunal has approved metals and mining giant Vedanta's resolution plan for Electrosteel. Vedanta will infuse equity and debt of â¹5,320 crore, which will be used to settle Electrosteel's debt owed to financial creditors.