NCLAT gives conditional nod to ArcelorMittal's Essar Steel takeover2 min read . Updated: 19 Mar 2019, 04:17 AM IST
- Share of proceeds that lenders and operational creditors are entitled to in ArcelorMittal's offer for Essar Steel will be decided later
- NCLAT asked the Insolvency and Bankruptcy Board of India to submit a ratio of the distribution of funds
New Delhi: The National Company Law Appellate Tribunal (NCLAT) on Monday gave conditional approval to Luxembourg-based ArcelorMittal’s ₹42,000 crore bid to take over domestic steel producer Essar Steel.
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