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Operational creditors with over INR 1 crore dues-The 20th China (Guangzhou ) Int’l Casting product Exhibition
3/8/2019 |
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PTI reported that a forum of operational creditors with over INR 1 crore in admitted dues from Essar Steel has appealed to ArcelorMittal which is in the process of acquiring the debt-ridden company, to pay their dues as well. In its appeal, a forum of operational creditors with over INR 1 crore of dues, said it is unfair that ArcelorMittal is not paying a penny to such creditors. They said “Our appeal is that ArcelorMittal may graciously and voluntarily modify their offer a bit and pay us also if not in one go at least in installments, over the next 12 months.”
Noting that the buyer is paying in full those operational creditors with less than INR 1 crore dues, the forum said “It’s extremely discriminating and wholly arbitrary. The operational creditors with over INR 1 crore dues are being singled out as if they are being punished. What crime have we committed?”
Essar Steel’s operational creditors with large dues include the national oil marketer IndianOil with over INR 3,500 crore of dues.
The NCLT Ahmedabad has been directed by NCALT to conclude the process by March 8. ArcelorMittal’s resolution proposal also includes an additional INR 8,000-crore of capital injection into the company to improve operational efficiencies, increase production and deliver enhanced levels of profitability 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 product Exhibition, China Casting product Exhibition, Casting Exhibition, China Casting Exhibition, 2019 Casting Exhibition, Casting product Expo, 2019 casting product Expo, China Casting product Expo, Casting Expo, China Casting Expo, 2019 Casting Expo,
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