Under Corporate Insolvency Resolution Process
Tata Steel Mining (TSML), a wholly owned subsidiary of Tata Steel has been declared as the successful resolution applicant by the Committee of Creditors for acquisition of Rohit Ferro Tech (RFT) on 05 June 2021, subject to it obtaining necessary regulatory approvals including approval from the National Company Law Tribunal (NCLT).TSML has accepted the Letter of Intent (LoI) for acquisition of RFT under the Corporate Insolvency Resolution Process (CIRP) of the Insolvency and Bankruptcy Code 2016 (IBC).
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