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NCLT Ahmedabad can decide on Essar Steel's insolvency case by Jan 31: NCLAT

The appellate tribunal has directed to list the matter on February 4 for next hearing

Press Trust of India  |  New Delhi 

steel, liberty house group, Adhunik Metaliks

The National Company Law Appellate Tribunal (NCLAT) Wednesday directed the Ahmedabad bench of to pass an order on the insolvency resolution plan submitted by Essar Steel's RP, in which ArcelorMittal emerged as the highest bidder.

A two-member bench of NCLAT, headed by Justice S J Mukhopadhaya, said that if the Ahmedabad bench of National Company Law Tribunal (NCLT) does not pass any order by January 31, then it would call the matter and pass an order accordingly on the next date of hearing.

The appellate tribunal has directed to list the matter on February 4 for next hearing.

We allow designated authority (NCLT) to pass appropriate orders by next date, failing which this appellate tribunal will decide, said

The matter is listed before the Ahmedabad bench of on January 31 for hearing.

The appellate tribunal was hearing an application filed by the CoC seeking an early decision.

Earlier on January 3, had asked the Ahmedabad bench of to expeditiously take a final decision in the insolvency case, where ArcelorMittal emerged as the highest bidder.

It had asked the NCLT bench to take an early decision in the matter as per the order passed by the Supreme Court in this regard.

First Published: Wed, January 23 2019. 11:50 IST
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