Essar Steel: NCLT rejects RIL plea to be heard as operational creditor


Essar Steel: NCLT rejects RIL plea to be heard as operational creditor

The Ahmedabad bench of the National Company Law Tribunal (NCLT) on Tuesday turned down Reliance Industries’ application to be heard as an operational creditor.

RIL opposed ArcelorMittal India’s Rs 42,000 crore resolution plan for Essar Steel before the two-member bench of Harihar Prakash Chaturvedi and Manorama Kumari.

The bench, in its order on Tuesday, however, accepted admitting right of RIL to get its claim registered as an operational creditor. RIL had joined the other operational creditors in the Essar Steel Insolvency case and knocked the doors of NCLT Ahmedabad and claimed Rs 16.41 crore believed to be accrued out of fuel and other services provided to Essar Steel’s Hazira plant near Surat in south Gujarat.  Read More

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