New Delhi: Three directors of erstwhile Essar Steel had approached the National Company Law Appellate Tribunal (NCLAT) against a lower bankruptcy court order that allowed takeover of the company by ArcelorMittal.
The matter was mentioned before a two-member bench headed by Chairman Justice S J Mukhopadhaya, which asked it to be listed after the Ahmedabad bench of NCLT posts its full written order. The three directors are – Prashant Ruia, Dilip Oommen and Rajiv Bhatnagar.
Standard Chartered Bank has also approached the NCLAT against the order. On Friday, NCLT Ahmedabad bench had approved the lenders’ plan to let ArcelorMittal take over the debt-idden Essar Steel. Passing an order, the tribunal had suggested that the payment of Rs 42,000 crore by ArcelorMittal be distributed among financial and operational creditors in the ratio of 85:15.
