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ArcelorMittal Moves SC against NCLAT Order in Essar Steel Case

Steel News - Published on Fri, 19 Jul 2019

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Financial Express reported that Essar Steel’s highest bidder ArcelorMittal has moved to the Supreme Court against a part of the order of the National Company Law Appellate Tribunal which had ruled that the profit of INR 3,495 crore generated during the corporate insolvency resolution process cannot be given to it.

The appellate tribunal had held that the profit should be distributed among all the financial and operational creditors on a pro-rata basis of their claims.

The petitions are coming up for hearing on July 22.

Source :

Posted By : Sanju Moirangthem on Fri, 19 Jul 2019
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