Treat us like other members of Essar Steel CoC: Standard Chartered to NCLT


Treat us like other members of Essar Steel CoC: Standard Chartered to NCLT

Reiterating its earlier claims, Standard Chartered Bank (SCB) on Tuesday sought to be treated equally with other members of the insolvent Essar Steel Ltd’s (ESL’s) committee of creditors (CoC) during repayment of dues under ArcelorMittal’s takeover bid.

Alleging that while rest of the 26-odd CoC members were being paid 92 per cent of their dues, SCB told the National Company Law Tribunal’s (NCLT’s) Ahmedabad Bench that it was being discriminated under the bid with only 1.7 per cent of its total claims set to be repaid by the LN Mittal-led company.

SCB’s legal counsel on Tuesday told the two-member Bench, comprising adjudicating authorities Harihar Prakash Chaturvedi and Manorama Kumari, Read More

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