SBI does well to challenge the NCLAT in Essar Steel case

SBI does well to challenge the NCLAT in Essar Steel case

State Bank of India has done well to approach the Supreme Court to challenge the National Company Law Appellate Tribunal (NCLAT) asking the Committee of Creditors (CoC) to reconsider its decision in the Essar Steel matter so as to ensure that operational creditors

Essar Steel CoC may vote against higher payments to StanChart

Essar Steel CoC may vote against higher payments to StanChart

The committee of creditors (CoC) in the Essar Steel insolvency case is likely to vote against higher payments to Standard Chartered, but may partly increase the amount operational creditors get as part of the settlement offered by ArcelorMittal, said people with knowledge of the matter.

Essar Steel: Decision on distribution of funds by Friday

Essar Steel: Decision on distribution of funds by Friday

The lenders of Essar Steel on Wednesday told the National Company Law Appellate Tribunal (NCLAT) that a decision by the committee of creditors on whether Standard Chartered, an unsecured financial creditor of the bankrupt firm, should get higher payout for its dues from the Rs 42,000 crore coming from the resolution plan of ArcelorMittal, would come by Friday.