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NCLAT asks Ruias to first clear all dues of nearly Rs 1.4 lakh crore to consider its bid for Essar steel

An appellate tribunal told Essar Steel Asia Holdings (ESAH) that its Rs 54,389-crore resolution plan for Essar Steel would only be considered if the entity cleared the Essar Group’s entire bad debt. Think of Rs 80,000 crore more, we will make some room for you, whatever the amount is,” said a two-member bench of the NCLAT on Thursday. ESAH had proposed to pay Rs 54,389 crore to settle all dues to financial and operational creditors of Essar Steel. 

Read More at The Economic Times News date : 15 Mar 2019, Friday

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