Adani Unit, ArcelorMittal, JSWin race to buy Vadraj Cement

Dated on: Friday 17th November 2023

In the context of the Insolvency and Bankruptcy Code process, Adani group, JSW Cement (owned by Sajjan Jindal), and ArcelorMittal Group are potential buyers for Vadraj Cement, an ABG Shipyard group company. The Bombay High Court had ordered Vadraj Cement's winding up in August 2018 following a legal dispute with a trade creditor, Beumer Technology India.

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