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Ramping up capacity critical for ensuring good valuation: Essar's RP Satish

Essar Steel resolution professional Satish Gupta, who managed the insolvency process for more than two years, tells Ishita Ayan Dutt about the challenges and mandat

Ishita Ayan Dutt 

How significant is the resolution of Essar Steel in the context of IBC? The resolution of Essar Steel, the largest of the 12 accounts referred to insolvency under IBC by the RBI in June 2017, is the single-largest resolution in terms of quantum and percentage of amounts realised by creditors. It is the largest acquisition transaction and foreign direct investment for the year, attracting investment from the largest steel producer in the world, ArcelorMittal.

IBC was put to test several times during Essar Steel’s corporate insolvency resolution process. What were the important ...

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First Published: Tue, December 17 2019. 00:25 IST
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