Supreme Court clears Arcelor's takeover of Essar Steel
In a major judgement that will help facilitate the biggest takeover of bad debts in Indian corporate history, the court also said that the committee of creditors will have a final say in the resolution plans under the Insolvency and Bankruptcy Code. The NCLT …
NEW DELHI: The Supreme Court on Friday paved the way for global steel giant ArcelorMittal to take over Essar Steel by upholding the primacy of financial creditors in the distribution of funds received under the corporate insolvency scheme.
In a major judgeme
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