The British and Australian metals and manufacturing giants plan to turn around the stressed steel company and announced to be GFG to set up an advisory board in India.

Mumbai: UK-based GFGG Alliance has appointed Vedanta has been appointed While Reliance Infrastructure former CEO Mahendra Singh Mehta The company is looking to enter the Indian auto parts and steel market.

Prior to this, the Bankruptcy Court approved the acquisition of two distressed assets by group companies Liberty House (Amtek Auto and Adhunik Metaliks) under the Annual Insolvency and Bankruptcy Code, 2016.

GFG, which operates across the metal fabrication, engineering, energy, financial services and real estate sectors, will soon form executive leadership teams across its business units in India, attracting senior professionals across the sectors.

Mehta has more than 36 years of experience in operations, strategy and business transformation in the steel, non-ferrous metals, mining, power distribution, infrastructure, cement and other industries.

The Metals and Manufacturing Group has turned around many of the struggling steel companies in the UK and Australia and plans to announce the formation of the GFG India Advisory Board. The Board will provide governance and strategic advice to the Group and in-country management.

“Following GFG’s success in many parts of the world, we are delighted to bring our ground-breaking business model to our home country. I am confident that Mr. Meitei’s appointment and other respected senior executives and advisors will help us achieve this goal. Sanjeev Gupta, Chairman, GFG Alliance “We are laying an important foundation for sustained long-term growth in India,” we said in a press release.”

Gupta’s Liberty House is also bidding with Tata Steel for Bhushann Power and Steel, while JSW Steel revised its initial offer last week. A final verdict on the property is still awaited.