Ex-Essar Steel directors approaches NCLT against ArcelorMittal takeover
On Friday, the Ahmedabad bench of the NCLT had approved the lenders' plan to let global steel giant ArcelorMittal take over the debt-idden Essar Steel.
Passing an order, the tribunal had suggested that the payment of Rs 42,000 crore by ArcelorMittal be distributed among financial and operational creditors in the ration of 85:15. Representational Image, source: Reuters