Latest News | NMDC Shareholders, Creditors Meetings Postponed to June 28
Get latest articles and stories on Latest News at LatestLY. The meetings of shareholders and creditors of state-owned NMDC to expedite the process of demerging the company's under-construction Nagarnar Steel Plant (NSP) has been postponed to June 28, 2022.
New Delhi, Jun 7 (PTI) The meetings of shareholders and creditors of state-owned NMDC to expedite the process of demerging the company's under-construction Nagarnar Steel Plant (NSP) has been postponed to June 28, 2022.
The steel ministry was to convene the said meetings on Tuesday.
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In a regulatory filing, NMDC said: "Due to unavailability of the chairperson appointed by the ministry of corporate affairs, and due to unavailability of quorum of equity shareholders, the meetings of the equity shareholders and unsecured creditors...have been adjourned...the same are to be held on Tuesday, June 28, 2022."
Additional steel secretary Rasika Chaube has been nominated to chair both the meetings.
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Country's largest iron ore mining company NMDC is setting up a 3 million tonne per annum steel plant at Nagarnar near Bastar in Chhattisgarh. The unit is being constructed over 1,980 acres at an estimated cost of Rs 23,140 crore.
In October 2020, the Union Cabinet approved the demerger of the NSP from NMDC, and sale of the Centre's entire stake to a strategic buyer.
Post-demerger, NSP will be a separate company.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)