Essar Steel verdict: What's next for bankruptcy law? | Economic Times

પર પ્રકાશિત: Nov 21, 2019
303 અભિપ્રાયો

India's insolvency resolution framework has truly arrived after a tortuous journey of three years. Banks will finally be able to keep out unscrupulous promoters with the law establishing the primacy of financial lenders on asset proceeds. ET's Saloni Shukla reports. (Text: ET Bureau)

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#supremecourt  #businessnews  #economynews  #economictimes  #EconomicTimesVideos  #InsolvencyandBankruptcyCode  #IBC  #NCLAT  #SaloniShukla  #BankruptcyCode  #ArcelorMittal  #EssarSteelVerdict  #InsolvencyProceedings  #CommitteeofCreditors  


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    In a setback to Ruia's, the Ahmedabad bench of the National Company Law Tribunal today has rejected the settlement offer by Essar Steel Ltd.’s promoters, the Ruia family. The ruling comes amid Arcelor Mittal's argument that Ruia's offer violated IBC. Essar Steel will now approach NCLAT. The tribunal also said that there is no illegality in decision taken by committee of creditors on selecting ArcelorMittal.

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  • ArcelorMittal bags Essar Steel as NCLT Ahmedabad clears Rs 42,000 cr takeover bid

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    National Company Law Tribunal (NCLT) Amedabad bench today cleared ArcelorMittal's Rs 42,000 crore resolution plan for Essar Steel takeover. ArcelorMittal, which has been engaged in a drawn-out attempt to acquire Essar Steel since 2017, had made a Rs 42,000 crore offer for the bankrupt Essar steel.

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  • Race for Essar Steel- NCLAT gives conditional nod to ArcelorMittal's Rs 42k cr plan

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  • Supreme Court stays NCLAT order in Essar Steel case

    Supreme Court stays NCLAT order in Essar Steel case, says once commercial wisdom of CoC takes place, one can't act as resolution professional




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