Essar Steel case: NCLT order on ESAHL offer's maintainability by January 31

With arguments for and against maintainability of Essar Steel Asia Holding Ltd (ESAHL)'s concluding, the National Company Law Tribunal (NCLT) Ahmedabad bench is set to pronounce order on the same by January 31, 2019.

Senior legal counsels from ESAHL, Committee of Creditors (CoC), Resolution Professional (RP) and ArcelorMittal made a last ditch effort to present their cases. While Essar Steel's holding company has been asserting its right to redeem the insolvent steel maker for consideration of its Rs 54389 crore worth settlement offer, the rest have argued that the offer was non-maintainable on multiple grounds.

On Monday, after hearing the