India: NCLT approves JSW bids to acquire Asian Colour Coated Ispat

JSW Steel has got the approval of National Company Law Tribunal (NCLT) to acquire the bankrupt steel company Asian Colour Coated Ispat, as per recent reports. This happened after more than a year the latter’s lenders approved the resolution plan. JSW Steel has offered INR 1,550 Crore for a 1 mn t steel plant.