Monnet may accept resolution plans even after deadline

The last date for Monnet would be January 13 unless it seeks an extension

In February, Sajjan Jindal-controlled JSW Steel had emerged the sole bidder for a controlling stake in Monnet Ispat & Energy through the strategic debt restructuring (SDR) route. On Tuesday, when the bids closed at 6pm for resolution plans for Monnet, which is going through the Reserve Bank of India (RBI)-mandated insolvency process, the only bid came from the JSW-AION combine. The only difference between then and now is that the present offer includes an upfront cash component.

Asked whether JSW-AION was the only bidder for Monnet at this point, Sumit Binani, resolution professional for the company, said the first right to