KOLKATA: State Bank of India has deferred the sale of Essar Steels Rs 15,431 crore loans to February 11 on poor investor response even as the delay in companys insolvency resolution process was criticised by ArcelorMittal, which has been declared the highest bidder by its lenders.
SBI, which has the largest exposure in Essar Steel, has said it took the decision on request of potential buyers. The e-auction for the loan was earlier scheduled for January 30.
The countrys largest lender has now extended the deadline for putting up a bid to January 30. Incidentally, the bank extended the deadline for inviting bids twice in last few days, first to January 23 from January 18, and now to January 30.
Essar Steels Committee of Creditors (CoC) …
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