JSW Steel Coated Products Ltd issued LoI for resolution plan of National Steel and Agro Industries Ltd

JSW Steel Coated Products Limited ("JSCPL"), a wholly owned subsidiary of JSW STEEL LIMITED, submitted a resolution plan in the corporate insolvency resolution process of National Steel and Agro Industries Limited ("Corporate Debtor") on September 06, 2022, as amended on October 06, 2022.

The resolution professional, has issued a letter of intent to JSCPL on October 07, 2022 informing that the committee of creditors of the Corporate Debtor has approved the resolution plan submitted by JSCPL and has declared JSCPL as the successful resolution applicant.

JSCPL has accepted the letter of intent on October 07, 2022. The closure of the transaction shall be subject to obtaining necessary approval from the National Company Law Tribunal, Mumbai.

Source : Equity Bulls

Keywords

JSWSteelCoatedProducts LoI NationalSteelandAgroIndustries ResolutionPlan Successful