17
Jul
15:02
Essar to approach NCLT after court dismisses appeal
Essar Steel plans to reason with the National Company Law Tribunal (NCLT) following the dismissal by the Gujarat High Court of Essar’s appeal to suspend bankruptcy proceedings against the Indian steelmaker.
Essar had appealed to the court for more time to complete its debt restructuring. It cited the advanced stage of discussions with lenders on its debt resolution proposal, payment of INR Rs 3,467 crores ($538.8 million) to banks between April 2016 a…
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Anonymous
Very good overview of the weekly steel market.
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