NCLAT to hear ArcelorMittal, NuMetal pleas tomorrow
The National Company Law Appellate Tribunal (NCLAT) would hear the appeals filed by Essar Steel resolution applicants - NuMetal and Arcelor Mittal - tomorrow.
The appellate tribunal's direction came over a petition filed by the lenders of debt-ridden Essar Steel requesting an early hearing on account of loss of money because of delays.
Earlier it was scheduled for hearing on July 23.
On May 22, NCLAT had ordered status quo on insolvency of Essar Steel for two months as it admitted petitions of NuMetal and ArcelorMittal over the bidding eligibility.
State Bank of India (SBI) filed the petition in NCLAT on behalf of the committee of creditors (CoC) of Essar Steel seeking the "earliest possible date for hearing on a day-to-day basis."
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