NCLAT stays order on ArcelorMittal to pay for using slurry pipeline

As per earlier NCLT Ahmedabad Bench order, ArcelorMittal had to pay Rs 1,300 cr for using pipeline to run Essar Steel by Dec 15

The National Company Law Appellate Tribunal (NCLAT) has stayed the order directing ArcelorMittal to pay Rs 1,300 crore as corporate insolvency resolution process (CIRP) cost to Odisha Slurry Pipeline Infrastructure (OSPIL) for using its assets.

In an order passed on Friday, the appellate tribunal said that as an ad-interim, the order regarding payment by the appellant (ArcelorMittal India Private Limited) to OSPIL by December 15, 2020, shall remain stayed till the next date of hearing. The matter is listed ‘for admission’ on January 22.

The Ahmedabad Bench of the NCLT had passed a 322-page order on November 10 – on