Reportedly, JSW Steel is understood to be the highest bidder for acquiring the assets of Bellary Steel.

It’s said that JSW Steel has submitted INR210 crore against the reserve price of INR205.63 crore, while Sesa Goa put in a valid bid at INR 206 crore.

Bellary Steel in Bangalore promoted by the S Madhav and S Parvathi had set up an integrated plan, aiming to meet 500,000 tons per annum capacity and a provision to 2 million tons at Bellary.

However it ended up with the project and sale the assets, the project also ran into debt.