Motilal Oswal
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Motilal Oswal
Economy

NCLT rejects Essar Steel promoters' plea to repay debt

Updated : January 30, 2019 06:20 AM IST

Essar Steel had said the Rs 54,389-crore offer by its shareholders to pay all dues of financial and operational creditors of the company was much superior to a rival offer by ArcelorMittal.
ArcelorMittal had offered to pay creditors Rs 42,000 crore to take over Essar Steel that faced insolvency proceedings to recover Rs 50,800 crore of unpaid loans.
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