Insolvency: Lenders ask NCLT to dismiss Essar bid

Insolvency: Lenders ask NCLT to dismiss Essar bid

The lenders of bankrupt Essar Steel on Wednesday told the Ahmedabad bench of the National Company Law Tribunal (NCLT) that the last-minute offer by the company’s promoters to pay Rs 54,389 crore should be dismissed as it is “not maintainable”.

ArcelorMittal wins Essar Steel auction with Rs 42,000-crore

ArcelorMittal wins Essar Steel auction with Rs 42,000-crore

ArcelorMittal said on Friday that Essar Steel creditors voted in favour of its Rs 42,000-crore bid and have issued a letter of intent to sell the asset to the company. The development indicates that the lenders haven’t entertained the Ruia family’s Rs 54,389-crore last-minute

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