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In a fresh twist, ArcelorMittal's OSPIL resolution plan challenged

The challenge to the ArcelorMittal resolution plan has come from Srei Infrastructure Finance as a secured financial creditor

OSPIL
Early December, OSPIL’s CoC selected ArcelorMittal’s Rs 2,300 crore upfront payment offer

There is a fresh twist to the resolution of Odisha Slurry Pipeline Infrastructure (OSPIL).ArcelorMittal’s resolution plan approved by the committee of creditors (CoC) has been challenged by the unsuccessful resolution applicant, Thriveni Earthmovers as well as Srei Infrastructure Finance, a lender.   A spokesperson for ArcelorMittal, said, “We cannot comment on details of an ongoing legal matter. We can confirm that the lenders of OSPIL approved ArcelorMittal’s resolution plan for the slurry pipeline unanimously, with a 100 per cent vote in favour of the plan. The ...