Essar Steel insolvency case: NCLAT asks NCLT to expedite decision

The Essar Steel insolvency case under the IBC has been running for around 500 days now, against the maximum stipulated time of 270 days

The Ahmedabad Bench of National Company Law Tribunal (NCLT) has been directed by the National Company Law Appellate Tribunal (NCLAT) on Thursday to expedite the hearing process on Essar Steel insolvency case in order to arrive at a decision quickly. 

A two-member bench, led by NCLAT Chairman Justice S J Mukhopadhaya, asked the Ahmedabad Bench of the NCLT to take a decision expeditiously in the matter following a Supreme Court verdict. 

The appellate tribunal’s direction comes in the wake of Essar Steel’s committee