NCLAT refuses stay on ArcelorMittal's takeover of Essar Steel1 min read 15 Mar 2019, 06:59 PM IST
NCLAT tells Essar Steel directors their offer will be considered only after they have cleaned up all bad loans on Essar Group's books
NCLAT seeks a fresh plan for the distribution of ArcelorMittal's payout among financial and operational creditors
NEW DELHI : New Delhi: The National Company Law Appellate Tribunal (NCLAT) on Friday refused to stay a bankruptcy court order approving ArcelorMittal's ₹42,000 crore takeover bid for Essar Steel Ltd, and sought a fresh plan for the distribution of the bid amount among financial and operational creditors of the debt-laden firm.
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