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Lenders take steep haircut on another steel asset under liquidation process

By Beena Parmar

  • 26 Jul 2021
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Lenders take steep haircut on another steel asset under liquidation process
Credit: Reuters

Lenders have taken a massive haircut on the sale of a Kolkata-based stressed iron and steel firm whose majority debt was acquired by Kotak Group’s asset reconstruction company (ARC).  Admitted into bankruptcy in October 2018, Shri Badrinarain Alloys and Steels Ltd’s (SBAS) assets have been purchased by Rashidhan Sales Pvt Ltd ......

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