Noida-based SMC Power Generation has acquired the main steel mill and power plant of Concast Steel and Power Ltd in a liquidation process, according to several people Mint spoke to. With ₹300 crore offered as upfront cash to lenders, this is the largest acquisition so far within the liquidation process under the Insolvency and Bankruptcy Code, 2016.
SMC Power acquires Concast’s steel units in largest liquidation deal
Date posted: Saturday 4 July 2020