First off the block: Resolution process kicks off for Monnet

Buyers to submit expression of interest by Sept 25; JSW Steel likely contender

The resolution process for Monnet Ispat and Energy has begun, with an invitation of expressions of interest from potential investors. Investors have till September 25 to submit expression of interest (EoIs) for a resolution plan, according to the advertisement put out for that purpose. 

Monnet has become the first to initiate the process among the five steel companies that are going through insolvency resolution under a directive of the Reserve Bank of India (RBI). The other companies are Essar Steel, Bhushan Steel, Bhushan Power and Steel and Electrosteel Steels. 

Among the likely contenders for Monnet is JSW Steel, which had