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| 1. |
Which Indian multinational steel manufacturing corporation received NCLT nod for taking over Essar Steel at Rs 42,000 Crore? |
| Answer» A resolution plan of Rs. 42,000 crores submitted by ArcelorMittal for acquisition of Essar Steel Ltd. was approved by the Ahmedabad bench of the National Company Law Tribunal (NCLT). The approval has been granted 583 days after the beginning of insolvency proceedings, against the mandatory time period of 270 days.The resolution proposal submitted by ArcelorMittal's consists of providing capital to the company, worth Rs 8,000 crore for improving operational efficiencies, increasing production and delivering higher profits. | |