Motilal Oswal
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Motilal Oswal

NCLT clears ArcelorMittal's resolution plan for Essar Steel

Updated : March 08, 2019 07:40 PM IST

Late last month, the National Company Law Appellate Tribunal (NCLAT) had directed the NCLT Ahmedabad to take a decision by March 8 on the bid submitted by ArcelorMittal for the acquisition of Essar Steel.
Last October, a committee of Essar Steel creditors had picked ArcelorMittal and Nippon Steel joint venture to acquire the 10-million tonne steel mill for over Rs 42,000 crore.
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