The concerns raised by the domestic steel lobby focus largely on the Chinese non-alloy steel being imported in the country that is presumably being misdeclared as alloy steel, which otherwise is value-added and expensive steel.
According to a copy of the complaint lodged with the Economic Offences Wing (EOW), Malvinder has requested a “detailed and thorough” investigation into “serious financial fraud” allegedly committed by Shivinder.
Data from the Reserve Bank of India shows that loan outstandings of micro and small units have fallen by 2.14 per cent to Rs 365,000 crore as on December 21, 2018 from Rs 373,000 crore in March 2018, a decline of Rs 8,000 crore.
The committee of creditors (CoC) is now expected to meet on Monday (February 18) to take up the bids. Lenders to JIL have already approved the proposed evaluation matrix of the bids and the process for request for resolution plan through electronic voting.