The National Company Law Appellate Tribunal Tuesday said it may direct global steel major ArcelorMittal to deposit Rs 42,000 crore bid amount for acquiring Essar Steel in separate accounts during next hearing on April 23.
"ArcelorMittal India, successful resolution applicant, would file an affidavit for implementation of plan," the bench said.
It further said, "The Appellate Tribunal may direct the successful resolution applicant to deposit money in one or another account in next date of hearing".
The bench also said that the original plan approved by NCLT Ahmedabad has to be implemented.
The bench also directed the operational creditors and financial creditors of Essar Steel to file a chart next week, detailing their claims approved by resolution professional and CoC.
"Financial creditors and operational creditors are allowed to file one page affidavit giving details of their claims approved by RP and its percentage," it said.
Moreover, it has also asked the Gujarat State Tax department to file an affidavit over its claims.
The NCLAT was hearing a batch of petitions filed by operational creditors, Gujarat State Tax department and others.
ArcelorMittal's resolution proposal provides financial creditors Rs 41,987 crore out of their total dues of Rs 49,395 crore.
Operational creditors, under the plan, would get just Rs 214 crore against the outstanding of Rs 4,976 crore and are contesting before the NCLAT.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)