INSUBCONTINENT EXCLUSIVE:
has said that it did not find any contradiction in approvals of resolution for Essar Steel and Binani Cement in the context of "value
The Ahmedabad bench of National Company Law Tribunal (NLCT) approved the ArcelorMittal's Rs 42,000 crore resolution plan, rejecting the
UltraTech Cement which was higher than what the Dalmia Bharat group had to offer even after the Committee of Creditors (CoC) earlier
which was approved was within the rules
The one which was rejected was because it was not balancing the interest of the stakeholders," IBBI chairman M S Sahoo told PTI when asked
proposal of Rs 54,389 crore is the most compelling one available to Essar Steel creditors and fulfills the IBCs declared overriding
objective of value maximisation, which has been established time and again by courts at all levels," Essar said in their reaction after the
all, while maximising the value detected We are happy that the judgement has agreed with the basic tenets of our stand and cemented a new
perspective to the IBC," a senior Exim Bank official had commented.
