Tata Steel To Take Over Bhusan Steel ,Monet Ispat, Electro Steel & Essar Steel
Jamshedpur 6 January 2018 : Tata Steel is going to become the steel king, Tata steel may soon overtake 4 Steel companies.
After Laxmi Mittal separated himself from the acquisition of Steel companies its Tata who will be the Steel King in India.
Tata Steel has expresses its will to take over Bhusan Steel, Monet Ispat, Electro Steel & Essar Steel. These 4 comapnies will souble Tata steel’s producation .
Bhushan Steel Ltd. : 5.6 Million Ton
Monnet Ispat & Energy Ltd. : 1.5 Million Ton
Electrosteel Steels Ltd. : 2.5 Million Ton
Essar Steel India Ltd. : 10 Million Ton
NCLT has ordered to auction these companies as their debts have crossed the limit and these companies are incapable to pay their debts. These 4 companies owes more than $26 Billion combined.
As per TV Narendran, M.D, Tata Steel , the comapny has already submitted the expression of interest letter to NCLT (National Company Law Tribunal) which is the first step towards the acquisition of these companies.