 "steel, iron, Essar, Bhushan")
The iron ore blocks bagged in auctions by Essar Steel, Bhushan Steel, and Bhushan Power & Steel — all now facing insolvency proceedings — are unlikely to augment their asset values.
These companies had successfully bid for three iron ore blocks located in Odisha over the past one year, following which, they had been issued Letters of Intent (LoIs) for allotment of mining lease by the state government.
As the LoIs have not been converted into mining leases yet, these cannot be shown in the asset list of the companies, an official of the state mining department said.
The official said that in
