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The possible perils of NCLAT's Essar verdict on India's credit market

Updated : July 15, 2019 10:19 AM IST

In the IL&FS case, the NCLT has indicated that provident funds, even if they are not secured or senior creditors, should be given their dues at par with or even over secured creditors because the beneficiaries of these funds are more vulnerable due to their age
In the Essar Steel case, the NCLAT set aside the distribution that the committee of creditors (the CoC) put forth
The possible perils of NCLAT's Essar verdict on India's credit market

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