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

ಪ್ರಕಟಿಸಲಾಗಿದೆ: Nov 21, 2019
305 ವೀಕ್ಷಣೆ

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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  • Setback to Ruias: NCLT rejects Essar Steel promoter’s settlement bid

    The Economic Times | A Times Internet Limited product

    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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  • Battle for Essar steel: SC rejects pleas by operational creditors

    The Economic Times | A Times Internet Limited product

    In a big setback to operational creditors of Essar Steel, SC today rejected their plea for a stay against Feb 11 NCLAT order which paves the way for Arcelor Mittal's buyout of Essar. ET NOW explains SC's major observations and tells how soon can the deal materialize.

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

    The Economic Times | A Times Internet Limited product

    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

    The National company Law Appellate Tribunal (NCLAT) Monday gave a conditional approval to Rs 42,000 crore resolution plan of ArcelorMittal for debt-ridden Essar Steel saying it will be subject to its final order in the appeal filed by the promoters. A two-member bench headed by Justice S J Mukhopadhaya said there is no stay on the Resolution Professional of Essar Steel to disburse the funds among financial and operational creditors of the company.

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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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  • CA Final Economic Law Paper 6D Insolvency and Bankruptcy Code 2016

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