 "Essar Steel Asia has no right over mortgaged asset, says CoC")
Countering Essar Steel Asia’s claims for a right to redeem the insolvent Essar Steel as a holding company with a 75 per cent stake, senior counsel for the Committee of Creditors argued that it had no right over the mortgaged asset as a shareholder in the National Company Law Tribunal.
Representing the CoC, senior counsel Ravi Kadam told the NCLT that the mortgaged assets belonged to the creditors and the public.
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