Essar Steel lenders may give more funds to operational creditors but unwilling to pay StanChart more
Updated : March 29, 2019 07:13 AM IST
The SBI led consortium of lenders is set to vote on the proposal to allot more funds out of Rs 42,000 crore offered by ArcelorMittal to operational creditors on Friday.
The NCLT bench had suggested that secured financial creditors be paid 85 percent of their dues, and the remaining 15 percent or Rs 6,300 crore be paid to operational creditors and other stakeholders.
Have you signed up for Primo, our daily newsletter?
It has all the stories and data on the market, business, economy and tech that you need to know.
THANK YOU! You made our day. See you every morning
YOUR EMAIL IS ON ITS WAY. Check your inbox for future updates.
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more