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SC sets aside NCLAT order, paves way for Arcelor to acquire Essar Steel

Apex court relaxes 330-day timeline for resolving stressed assets by diluting its mandatory nature

Topics
ArcelorMittal | Essar Steel | Essar Steel sale

Ishita Ayan Dutt  |  Kolkata 

ArcelorMittal
The court has allowed ArcelorMittal to pay and distribute the Rs 42,000-crore bid amount in line with the resolution plan dated October 23 this year

The Supreme Court on Friday brought down the curtains on an epic battle for debt-laden Essar Steel, paving the entry of the world’s largest steel maker, ArcelorMittal, into the second-biggest steel market, India.

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First Published: Sat, November 16 2019. 01:26 IST
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