The committee of creditors of stressed steel mill Asian Colour Coated Ispat is due to vote today on a revised offer from JSW Steel. Asian Colour Coated Ispat has outstanding debt of over ₹5,000 crore. JSW Steel has improved its bid to ₹1,500 crore, a person close to the development told Mint, requesting anonymity. But with the timelines in the Essar Steel resolution stretched, Asian Colour Coated Ispat’s committee of creditors chose to settle this case sooner. Asian Colour Coated Ispat was part of the RBI’s second list of 28 defaulters that banks were to refer to insolvency court.

Source: Mint May 10, 2019 04:41 UTC