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Kolkata-based Electrosteel Steel has got a 90-day extension in time period for its corporate insolvency resolution process (CIRP) effective January 17, 2018.
The extension was given by the National Company Law Tribunal (NCLT), Kolkata bench, based on the application made by the Resolution Professional for extension of the insolvency resolution process.
The order was passed by the Kolkata Bench of NCLT on December 19, 2017, the company said in a notification to the BSE. The company’s total debt stood at ₹10, 274 crore at the end of March 2016.
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