...submits bids for Bhushan Steel
4 Feb 2018 10:20 PM IST
New Delhi: JSW Steel said on Sunday that it has submitted resolution plans for Bhushan Steel, which is undergoing insolvency proceedings.
According to sources, Tata Steel has also submitted bid for the debt ridden company.
A Tata Steel spokesperson however declined to comment.
Luxembourg-based ArcelorMittal said in a statement that it has not submitted resolution plan Bhushan steel. Saturday was the last day for submitting bids for the maker of auto grade steel.
"ArcelorMittal can confirm it has not bid for Bhushan steel, but we remain interested at looking at future opportunities in India," it said.
JSW Steel said meanwhile that it had submitted resolution plans on Saturday, before the 6 pm deadline.
The highest bidder is expected to be announced on Tuesday, sources said.
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