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Steel firms dominate RBI's list of 12 defaulters

Bhushan Steel, Lanco Infratech, and Essar Steel the most indebted companies

steel

With the Reserve Bank of India (RBI) putting 12 stressed loan cases under the Insolvency and Bankruptcy Code (IBC), bankers are betting on getting better value in troubled steel companies such as Essar Steel and Bhushan Steel. While senior bankers and restructuring advisory professionals said there was a heavy concentration of cases from the steel and infrastructure sectors, they expected resolution to happen faster in steel.  The improvement in demand, better price and the anti-dumping duty on imports have helped steel companies improve realisations and ...