A file photo of an Essar Steel facility. If these two options don’t work, the lenders to Essar Steel may have to go to debt recovery tribunals, which have a dismal track record. Essar Steel Ltd’s lenders, after 10 months of unsuccessful efforts to find a buyer for the debt-laden steel maker, now have two less desirable options left on the table. Therefore, it is premature to comment at this stage,” an Essar Steel spokesperson said. Still, since Essar Steel is already a bad loan, higher provisions have already been made.

Source: Mint September 25, 2016 18:11 UTC