S&R advises creditors’ committee on Indian Steel insolvency

S&R advises on Indian Steel insolvency

S&R Associates advised the committee of creditors of Indian Steel Corporation’s corporate insolvency resolution and acquisition by AM Mining India.

Partners Divyanshu Pandey and Sudip Mahapatra led the S&R team, with assistance from associates Apurv Sharma and Rajat Maloo on restructuring matters involving the corporate insolvency resolution process and resolution plan. Partner Shahezad Kazi, and associates Tripti Sharma and Utkarsh Trivedi assisted on litigation matters.

Indian Steel Corp was admitted to the insolvency resolution process after financial creditor India Resurgence ARC filed a petition under the Insolvency and Bankruptcy Code 2016 over an unpaid debt. The matter was heard before the Mumbai bench of the National Company Law Tribunal.

Indian Steel Corp manufactures cold rolled steel and coated steel products.