US-based firm betters JSW offer in race for Asian Colour Coated Ispat

New US-based bidder offers better deal than JSW

Indian lenders are set to call bids for Asian Colour Coated Ispat (ACCIL) for the second time as JSW Coated, a Sajjan Jindal group firm, which was the highest bidder in the first round, is seeing competition. The new bidder is a US-based firm, which has given a better offer than JSW, said lenders.
 
In a communication earlier this month, the US fund Interups Inc offered to make a better value proposition to lenders than JSW, said a source close to the development. ACCIL was sent to the National Company Law Tribunal (NCLT) for debt resolution in 2018 after