 "Essar Steel")
The Essar Steel’s debt resolution battle has moved to the Supreme Court with State Bank of India (SBI) moving the highest court against the NCLAT (National Company Law Appellate Tribunal) advice to give more cash to Standard Chartered Bank (SCB) – which has made a claim of Rs 3,487 crore against the company.
The SBI action came just days before the NCLAT was to hear the outcome of the CoC meeting on April 9th. During the NCLAT hearing, the State Bank of India had said as Standard Chartered Bank is not a secured creditor, it should not be allowed to make
