Jayaswal Neco Industries have been intimated by Indian Overseas Bank (IOB) and Union Bank of India (UBI) that they have assigned its debt of the company to Assets Care & Reconstruction Enterprise (ACRE). ACRE is an Asset Reconstruction Company (ARC) established under the provisions of SARFAESI Act, 2002 and is engaged in the acquisition of assets (NPAs) from Banks/FIs and their resolution as per the guidelines issued by Reserve Bank of India.
Jayaswal Neco Industries manufactures and sells iron and steel, ferrous and non ferrous castings in India. The product range includes HR and CR Sheets and coils, bars and rods apart from carbon and alloy steel. The company also in the business segment of Steel, Iron and Steel Castings.