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RP changes bidding rules to keep Ruias out of race for Essar Steel -2018 China (Guangzhou) Int’l Bearing and Equipment Exhibition
4/4/2018 轴承展- Bearing and expo- bearing exhibition |
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Economic Times reported that ahead of fresh bids for Essar Steel on Monday, the resolution professional (RP) has incorporated a "new legal addendum" in the request for proposal that may force VTB and other members of the Numetal consortium to exclude Rewant Ruia''s Aurora Enterprise Mauritius from the grouping. The RFP prohibits any entity from transferring shares or management involvement directly or indirectly now or at any time in the future to the Ruias, or any connected persons. Any violation of this undertaking would lead to a cancellation of the bid and resolution plan.
The bidder will have to give an undertaking said that "(l/we) have not and no person controlled by (me/us) has as of the date of this declaration, entered into any arrangement (whether written or verbal, contractual or otherwise) with any member of existing promoter group..."
It said that "Any breach of terms of this declaration shall, amongst others, render the resolution plan ineligible (whether or not it has been approved by committee of creditors or adjudicating authority) and prior to such approval, the RP shall have the right to reject the resolution plan without any liability."
2018年广州国际轴承及其装备展览会
-2018 China
(Guangzhou) Int’l Bearing and Equipment Exhibition
-Bearing exhibition, bearing expo, 2018
bearing exhibition, 2018 Bearing expo, China Bearing exhibition, China Bearing
expo
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