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When the company s resolution professional (RP) Ravi Sethia invited the bids, four bidders - Amit Metaliks, Nalwa Steel & Power, BTL EPC and Rashmi Metaliks - showed interest in acquiring the company. But only two bidders-BTL EPC and OP Jindal Group-promoted Nalwa Steel & Power-participated in the second challenge process, in which nine rounds of bidding were conducted.