JSW Steel is seeking a legal opinion if it can bid solo for stressed assets of Essar Steel, a top company official said Tuesday.
When asked if JSW Steel is mulling going solo for acquiring stressed assets of Essar Steel if fresh bids were allowed, JSW Steel joint managing director Seshagiri Rao said that it would depend on legal opinion and the view of the Committee of Creditors.
"It depends upon the legal opinion and the view of the CoC (Committee of Creditors) and the Resolution Professional (RP). If they take a positive view ... then we are open to look at it," he told reporters.
"We are seeking a legal opinion and based on that opinion we will take a call," he said.
He was speaking during the International Conference on Minerals and Metals.
"At that time when the second round of bidding was happening JSW Steel was looking at submitting the bid alone. We were not permitted. So, we have to see what view CoC and RP will take in the light of the Supreme Court judgement," he said.
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