Jindal Steel and Power’s (JSPL) South African units has reportedly filed for local form of bankruptcy protection known as business rescue in the month of June.
On June 12, Jindal Mining SA, Eastern Solid Fuels and Jindal Africa Investments had filed notice of the voluntary proceedings. Jindal Mining SA’s main business is coal production at the Kiepersol mine.
JSPL is one of India’s fastest growing and largest integrated steel manufacturers, significantly present in Steel, Power Generation and Infrastructure segments and catering to a large part of India's domestic energy and infrastructure requirement.
