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NCLT to take up Essar Steel insolvency case on Nov 28-The 20th China (Guangzhou ) Int’l Casting product Exhibition
11/6/2018 铸件展-casting expo-Die-casting expo-foundry expo |
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Business Line reported that the National Company Law Tribunal (NCLT) is set to hear all the caveats filed by the operational creditors and aggrieved parties together in the Essar Steel insolvency case starting November 28. Apart from the three separate cases already filed against the ArcelorMittal resolution approved by Committee of Creditors, some operational creditors are planning to move NCLT when it reopens on Monday after the festival holidays, a source said.
Some of the banks and operational creditors have to take substantial haircut if the CoC-approved ArcelorMittal’s plan is okayed by the NCLT, he added. For instance, Indian Oil Corporation and Bharat Petroleum Corporation is set to lose about INR 4,000 crore, if the ArcelorMittal offer is accepted. If the ArcelorMittal plan goes through, operational creditors will get only INR 196 crore and the public sector oil companies will get the least as they are big operational creditors, said sources.
铸件展-铸件采购会-国际铸件展-2019第二十届广州国际铸件展会-巨浪展览
-The 20th China (Guangzhou ) Int’l
Casting product Exhibition
-Casting product Exhibition, 2019 casting
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2019 Casting Expo,
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