JSW beat out rivals Tata Steel Ltd. & Liberty House Group with a bid of about Rs 19,700 crore, and now adds 3.5 million tons a year of capacity to its operations.
Steel companies are taking a battering this year as a crisis in the country’s shadow banking sector fueled a cash crunch, and economic growth slowed to a five-year low.
India's overseas purchases from South Korea, Japan and other Southeast Asian neighbours totalled 7.8 million tons, making it a net importer, and are likely to stay around that level this year.
Challenges from rival bidders & creditors have seen Mittal's firm make dozens of trips to court since an initial bid in Feb 2018 to acquire Essar Steel.
SEBI probe concluded that purported loans and fund transfers were paid back in full and did not amount to deceptive market practices or unreported related party transactions.
Many really smart people now share the position that playing cricket with Pakistan is politically, strategically and morally wrong. It is just a poor appreciation of competitive sport.
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