Signage for Essar Steel Ltd. is displayed as workers load items onto a truck at the company’s Pune Facility near Pune, Maharashtra, India. (Photographer: Dhiraj Singh/Bloomberg)

Essar Steel Insolvency: NCLAT Upholds ArcelorMittal’s Bid But Says Creditors Can’t Decide Allocation

The National Company Law Appellate Tribunal on Thursday upheld ArcelorMittal SA’s resolution plan for Essar Steel Ltd. but has also stated that the committee of creditors has no role in distributio...

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