India: Renaissance moves NCLT against Electrosteel Steels bids by Tata, Vedanta

India: Renaissance moves NCLT against Electrosteel Steels bids by Tata, Vedanta

A file photo of Tata Steel’s Port Talbot plant. Photo: Reuters

Abhishek Dalmia’s Renaissance Steel India Pvt. Ltd on Thursday approached the Kolkata bench of the National Company Law Tribunal (NCLT) alleging Tata Steel Ltd and Vedanta Ltd are not eligible to bid for the assets of Electrosteel Steels Ltd, which are being auctioned under the Insolvency and Bankruptcy Code (IBC).

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