Tayo Rolls insolvency: confusion over IRP selection

Tayo Rolls insolvency: confusion over IRP selection

Tata Steel subsidiary, Tayo Rolls, has been mired in controversy for a long time now. It has been facing losses since 2008. Much before it was under IBC proceedings, the company had filed before the BIFR under provisions of the (now repealed) SICA. The company has also been involved in litigation for non-payment of workmen’s wages and has in the past, sought closure of one of its units under the provisions of the Industrial Disputes Act.

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