Ankit Metal & Power to restructure its debt as per CDR - LOA

Ankit Metal & Power has received an approval for restructuring its debts as per the Corporate Debt Restructuring Letter of Approval (CDR - LOA) received pursuant to the restructuring package approved by the CDR Empowered Group (CDR EG) at its meeting dated September 09, 2014. The board of directors at their meeting held on September 19, 2014 have considered and approved for the same.

Ankit Metal & Power has been incorporated with a view to set up an integrated steel plant with facilities to manufacture sponge iron, pig iron, MS ingots and billets, pellets, and finally variety of superior quality rolled products along with a captive power plant.