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Supreme Court rejects pleas by operational creditors of Essar Steel

The Supreme Court has rejected the pleas filed by the operations creditors of Essar Steel, seeking a stay on a National Company Law Appellate Tribunal (NCLAT) order asking the NCLT Ahmedabad to decide upon the debt-laden company's insolvency case by February 11. Now the NCLT will be bound to pass the insolvency order within the stipulated date. The Supreme Court on Monday said the Essar promoters are acting through operational creditors, people and proxies to delay the insolvency process and it has been 571 days since the inception of the insolvency proceedings.

Read More at CNBC TV18 News date : 11 Feb 2019, Monday

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