Get latest articles and stories on Latest News at LatestLY. AM Mining India on Thursday said it has completed the acquisition of debt-laden Uttam Galva Steels Limited through the insolvency process. Latest News | AM Mining India Completes Acquisition of Uttam Galva Steels.
Uttam Galva Steels was put under the 'Corporate Insolvency Resolution Process (CIRP)' on an application made by the State Bank of India SBI for not repaying its debts.
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The committee of Creditors (CoC) of Uttam Galva Steel has approved AM Mining India Private Ltd’s bid for the distressed steel company by 100 per cent vote share.