A resolution plan will be submitted to IRP within the scheduled time frame,” an Essar Group Spokesperson said. One of the PSUs made request (for acquiring) to the Finance Ministry in this regard. New Delhi: Top global players including Tata Steel, Essar Group and ArcelorMittal are learnt to have submitted bids to acquire debt-laden Essar Steel which is going through the insolvency resolution process..A global financial services provider, the VTB group comprises over 20 credit institutions and financial companies operating across all key areas of the financial markets. It is the investment arm of the VTB group.Among state-owned firms, when contacted, a SAIL spokesperson, denied having any knowledge of the steel PSU submitting any expression of interest.we keep looking at these assets..Meanwhile, a source said: “Essar Group, participating in the bid has submitted EoI for Essar Steel along with a letter of comfort from Russia&China Stainless Steel Nozzle Manufacturers39;s VTB capital which is a financial services company.Essar Steel is among the largest single location steel producers with a 10 MTPA liquid steel capacity.The company said it has made gross investment of over Rs 5,000 crore to set up the facilities. end-of Tags: arcelor mittal, essar steel, essar group, tata group Location: India, Maharashtra, Mumbai (Bombay).Essar Steel owes about Rs 45,000 crore to lenders.A Vedanta spokesperson, when asked in this regard, said the company has not shown any expression of interest. Besides, shareholders have infused equity of over Rs 16,000 crore till date. Besides, it has beneficiation and pellet making capacity of 20 MTPA spread across Vizag and Paradeep.The group operates a large international network and the majority shareholder of the VTB Bank is the Russian government, which owns 60.Asked about the rationale for bidding, the spokesperson said IBC allows promoters to bid for their company at the NCLT and there are no limitations.Essar Group, Tatas, ArcelorMittal bid for Essar Steel –> –> –> Search Horoscope IndiaPoliticsCrimeAll IndiaWorldSouth AsiaAsiaMiddle
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