Tag: Insolvency
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Arcelor Mittal to Takeover India’s Essar Steel
Finally the long drawn insolvency case of Essar Steel got concluded with Ahmedabad bench of NCLT clearing ArcelorMittal’s INR 42,000 crore resolution plan for Essar Steel takeover today. In its judgment, NCLT said that it cannot impose ‘judicial view’ on the lender’s choice – Arcelor Mittal. However, it has asked Committee of Creditors (CoC) to…