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Essar Steel's former board members seek to take part in lenders' meet

The Supreme Court had said the suspended board members of a firm should be included in all deliberations of the CoC

Vinay Umarji  |  Ahmedabad 

steel, Essar Steel, JSW Steel, ArcelorMittal
Representative Image

Insolvent Essar Steel’s suspended board members told the National Company Law Tribunal, Ahmedabad, on Tuesday they were deprived of their right to take part in lenders' meeting and comment on the Rs 42,000-crore resolution plan by ArcelorMittal.

ALSO READ: Essar Steel insolvency case: SC clears decks for ArcelorMittal's bid

Citing the January 31 order in case, the former board members challenged the Committee of Creditors' (CoC’s) approval of ArcelorMittal's takeover bid without their participation and sought for a copy of the plan. The apex court on January 31 had said the suspended board members of a firm should be included in all deliberations of the CoC, including discussions on the plan.

First Published: Wed, February 13 2019. 01:02 IST
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