MUMBAI: Kolkata-based Adhunik Group has received about 15 to 20 separate expressions of interest (EoIs) collectively for its four struggling resources and metals companies that now await the resolution of Rs 5,000 crore in debt and claims at dedicated insolvency courts.
Adhunik Alloys and Power, Adhunik Metaliks, Zion Steel, and Orissa Manganese and Minerals await resolution under the bankruptcy code, and several rivals, such as Sunflag Iron and Steel, Kalyani Steel, and Rashmi Steel, and financiers Edelweiss ARC and Srei Infrastructure Finance have shown interest in the businesses, two people familiar with the matter told ET.
Binding bids for the resolution plans must be submitted in the next two weeks. A consortium of lende…
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