The National Company Law Appellate Tribunal (NCLT) has approved the resolution plan of INR 4,050 crores for debt-ridden Uttam Galva Steels, which was submitted by ArcelorMittal India. It is to be noted that this is steel major’s third purchase through insolvency process. Prior to this, NCLT has admitted an insolvency petition against Uttam Galva in Oct’20.
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