Modern Steels has completed the transfer and sale of steel business, heat treatment business and auto component business (Business Undertaking), as a going concern on a slump sale basis, by way of a business transfer agreement (BTA), to a wholly owned subsidiary of Arjas Steel by the name of 'Arjas Modern Steel (Purchaser). Pursuant to the business transfer agreement (BTA) and approval of the AGM, the slump sale has been completed on January 5, 2022.
Modern Steels caters to the requirements of special & alloy steel, stainless steel, hot rolled bright bars for engineering, automotive, bearing and allied industries.
