The National Company Law Appellate Tribunal (NCLAT) on Tuesday granted a week more to NCLT Ahmedabad to decide over the `42,000-crore resolution plan submitted by ArcelorMittal for the bankrupt Essar Steel.
A two-member bench headed by Justice SJ Mukhopadhaya has directed the Ahmedabad bench of the NCLT to decide the matter by February 19.
During the hearing, NCLAT was informed that Ahmedabad bench has completed hearing on operational creditors’ plea and is scheduled to hear suspended Essar directors later in the day on Tuesday.
Earlier on February 4, the NCLAT asked NCLT to decide by February 11, failing which it would call records and pass order. Read More
Latest posts by Financial Express (see all)
- Indian Railways leads world by example! PM Modi flags off 1st ever diesel to electric conversion locomotive - February 19, 2019
- Indian Railways does a Gully Boy! Warns ticketless passengers in rap style with new ‘Tera Time Aayega’ video - February 19, 2019
- Indian Railways push for North-east! New LHB coaches refurbishing facility means more jobs, passenger comfort - February 19, 2019