Essar Steel challenges SBI's insolvency plea at NCLT's Ahmedabad bench

Firm claims application signatory did not carry proper authorisation; hearing put off to July 25

Essar Steel on Monday sought dismissal of an application for insolvency proceedings filed against it by lead creditor State Bank of India (SBI) on "technical grounds" at the National Company Law Tribunal (NCLT), Ahmedabad bench.

The ongoing hearing of insolvency proceedings against Essar Steel initiated by SBI and Standard Chartered Bank (SCB) at the NCLT bench was put off for Tuesday, July 25, 2017.

Essar Steel contended that the signatory of the application filed at NCLT did not have any authorisation of such powers by SBI Chairman or Central Board, in this case, Chairperson Arundhati Bhattacharya. Essar Steel counsel argued