Chennai steel maker to buy rival under Insolvency and Bankruptcy Code

A Tamil Nadu-based steel manufacturer is set to acquire bankrupt steelmaker Kamachi Industries beating three other applicants under the Insolvency  and Bankruptcy Code (IBC). Kamachi Industries Ltd (formerly known as Kamachi Sponge and Power Corporate Ltd), also Chennai, Tamil Nadu-based, owed a debt of nearly Rs 1,500 crore ($204.7 million) to ......