Wednesday , June 23 2021

Essar Steel's debt-new face Gayle NCLTT



Gold and Gco, the national company Law Tribunal (NCLT) has filed a special application for ArcelorMittal for auction of Steel Mills by Essar Steeling Company.

The central gas utility Gail (bench of Ahmedabad in NXL) said ArcelorMittal submitted that the project was "failing to protect the interest of working lenders".

Gayle claimed he had bought Rs 907.20 crore against Essar Steel. 125 crore to Essar Steel operators.

"Section 30 (2) of Section 30 (2) of the Smotassistic and Dinwarsi Code (IBC) has been filed in violation of 2016. Otherwise, this is not the decision, the interest of farmers expressing their rigorous, rational and rigid interest."

Gujarat Energy Transmission Company Gujarat Energy Transmission Company (GICCO) has asked the Essar Steel Broadcast / Wheeler to pay the charge during May 2005 to March 2011.

The company will get Rs 896.52 crore from Essar Steel for Rs.

NKLK asked Ghotco not to authorize the proposal submitted by him. He also demanded a review of Rs 896.52 crore of the application submitted.

The transparency program does not have a provision according to the provisions of 2016, IBBI (Corporate Persons for the Corporate Persons) Regulations and 2016. The corporate debtor has not reflected any amplified and legally binding debt and liability. .

Last week, Essar Steel had made three applications worth Rs 600 crore. Orissa Stevadore's Rs 20 crore, 29 Operators Rs 360 crore and Arkau Logistics Rs 227 crore.

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A month after the approval of the Essar Steel Committee, the promoters of the company had to pay Rs 54,389 crore. ArcelorMittal had agreed to repay a debt of 42,000 crores for all debt liabilities including action lenders.

Last month, a committee of Essar Steel Company had taken a loan of Rs 42,000 crore to ArcelorMittal. An amount of Rs 49,939 crore was disbursed to the tune of Rs 41,987 crore. Farmers working under the scheme will have to spend Rs 4,976 crore and get just Rs 214 crore.

"NCLT is acting as a post office, NCLT is creating a mark of justification in the Credit Plan approved by the Credit Committee, and the interest of all creditors, if not done, can not be rejected by NCLT. If it is NSLT approval through NCLT, it will link everyone The test of the Opposition's opposition to all opposition has been decisive and important, "Gail said. In the petition.

– PIT


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