According to a source close to the development, Edelweiss has already submitted its expression of interest and would be presenting a resolution plan in the coming days. The last date for Monnet Ispat will be extended as lenders are not happy with JSW Steels offer. Monnet Ispat plans to file an application for a 90-day extension before the National Company Law Tribunal. Monnet Ispats 180 days would be completed on January 13 and 270 days on April 4. The delay is good for JSW Steel, which has sought clarity on the income-tax to be levied on the haircut taken by the bank and interest foregone by them. The coming Budget is expected to clarify on this aspect.
According to the inform…
Read the full article at: http://www.business-standard.com/article/companies/edelweiss-joins-race-for-monnet-117122900036_1.html
