Articles tagged under: NCLT

NCLT Ahmedabad bench clears ArcelorMittal’s resolution plan for takeover of bankrupt Essar Steel

March 08, 2019
NCLT Ahmedabad bench clears ArcelorMittal’s resolution plan for takeover of bankrupt Essar Steel

Ahmedabad: The Ahmedabad bench of National Company Law Tribunal (NCLT) today cleared steel major ArcelorMittal's Rs 42,000 crore resolution plan for debt ridden Essar Stee'sl takeover. The L N Mittal led ArcelorMittal was trying to acquire bankrupt Essar Steel , which has a 10MTPA steel plant in the western state of Gujarat, since 2017.Committee of Creditors in October last year but was challenged before the National Company Law Appellate Tribunal (NCLAT) which had directed the NCLT Ah...Read More