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Essar Steel insolvency case: NCLAT verdict on ArcelorMittal, Numetal today

The companies had filed petitions challenging the decision by Essar Steel's resolution professional to bar both from bidding the stressed firm

Advait Rao Palepu 

Essar Steel

The (NCLAT) in New Delhi will on Friday give its verdict over the petitions filed by and in the case.

The had filed petitions challenging the decision by Essar Steel’s resolution professional to bar both from bidding the stressed firm.

The verdict will be significant, given it will set a precedent with regards to what constitutes as an eligible 'resolution applicant' or bidder according to Section 29A of the IBC, say experts.

Regardless of the verdict one can expect both parties to file appeal(s) with the Supreme Court, say lawyers.

First Published: Fri, September 07 2018. 05:30 IST
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