Jindal Steel & Power successfully bids for UMI Special Stell Ltd

Jindal Steel & Power Ltd has announced that as per Sale Notice of Honourable High Court of Jharkhand at Ranchi dated July 18, 2006 for liquidation of the assets of M/s. UMI Special Steel Ltd. which was formerly known as Bihar Alloy Steel Ltd, the Company successfully won the bid and owned the assets of this Company. The assets of UMI Special Steel Ltd. consist of more than 550 acres of land (526.79 acres for 99 years w.e.f. March 02, 1967 and 22.31 acres for 99 years w.e.f. January 16, 1980) and also 2.385 acres of freehold land. Apart from the land, these assets are also owned by the Company i.e. plant and machinery consisting of steel melting shop, rolling shop, finishing shop and forging shop etc. and also the residential quarters of workers and officers with Club, dispensary Guest House etc.

Source : Equity Bulls

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