“The National Company Law Tribunal (NCLT) has approved the bid of AION Capital-JSW Steel to acquire Monnet Ispat & Energy Ltd, providing major relief to the consortium” in the insolvency reported Mint.

Cyril Amarchand Mangaldas advised Committee of Creditors (CoC) of Monnet Ispat & Energy Limited, comprising of 40 financial creditors, led by a team of partners L Viswanathan and Spandan Biswal.

Argus Partners advised the resolution professional of Monnet Ispat, Sumit Binani (supported by Grant Thornton), with an Argus Partners including managing partner Krishnava Dutt, partner Ranjit Shetty, partner Adity Chaudhury, senior associate Swapnil Gupte and associate Riya Dutta.

Shardul Amarchand Mangaldas advised the resolution applicants, AION Investments Private II Limited and JSW Steel Limited, led by a transaction team of partners Gunjan Shah, Shruti Kanodia, senior associates Sneha Vardhan and Aditi Kapoor, and associates Rahil Edward Pereira and Shubhaang Sinha. The litigation team included partners Misha and Meghna Rajadhyaksha, senior associate Siddhant Kant, and associate Umang Singh. The competition law team consisted of partner Aparna Mehra, associate Gayatri Pradhan, senior economist Saattvic, and associate Geet Sawhney.

2018-07-19

Deal value: Rs 2,875 crore ($420m)