Essar Steel’s debt in FY17 rose by 18.9% over the start of the fiscal year. As the curtains are set to come down on Essar Steel’s restructuring, the closing scene looks barren with only two actors—ArcelorMittal and Numetal Mauritius—left on stage. Here’s what’s on offer for the winning bidder for Essar Steel, gleaned from its fiscal year 2017 (FY17) annual report. Essar Steel sold 5.3 million tonnes (mt) of steel in FY17, up 44% over a year ago. Why Essar Steel did not attract more interest is a question that must trouble fans of the insolvency process.

Source: Mint February 15, 2018 03:00 UTC