Business Standard

Operational creditors face Shakespearean dilemma in Essar Steel insolvency

The challenge for RPs is to determine how to keep the company a 'going concern' without giving in to all the demands from operational creditors

Essar Steel

Aashish Aryan
The operational creditors of steel companies face a Shakespearean dilemma. Though they wish to speak out against the problems at hand due to delayed payments of dues from companies undergoing the Corporate Insolvency Resolution Process (CIRP), they fear retribution from the committee of creditors (CoC) and the new management which would take over.
“These companies are largely small-time operators and do not wish to sour their relationship with the new management. They are fearful whether a big company would want to continue their contract with them or not,” said Anand Verma, an advocate-on-record of the Supreme Court, who has

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Mar 31 2019 | 9:32 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers.

Register to