Diabytes
Electrosteel Steels News
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A two-member bench also said this payment would be subject to the outcome of the petition filed by Renaissance Steel challenging Vedanta's bid.
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SBI has initiated insolvency proceedings before NCLT against Kolkata- based Electrosteel Steels to recover Rs 10,000 crore in loans as bankers tighten screws on big corporate defaulters.
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Reacting to the news, shares of the firm breached the upper circuit. The shares were trading higher by 11.42 percent at Rs 4.20 apiece on BSE in afternoon trade.
"There has been initial talks in this matter between Vedanta and Electorsteel, however nothing is finalised yet," a person privy to the matter said.
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