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Essar Steel Limited V. Satish Kumar Gupta.pdf

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Preview of Essar Steel Limited v. Satish Kumar Gupta

🔗 Source: ibbi.gov.in

📊 Size: 516 KB

👤 Author: Aravind Raj

⬇️ Downloads: 88

Summary

The Supreme Court of India heard a group of appeals and writ petitions related to the Insolvency and Bankruptcy Code, 2016, specifically regarding the role of resolution applicants, resolution professionals, and the Committee of Creditors. The case involved Essar Steel India Limited, with ArcelorMittal India Private Limited and Numetal Limited submitting resolution plans. The Court previously declared both ineligible under Section 29-A of the Code but granted them another opportunity to pay off non-performing assets. ArcelorMittal made the payment, resubmitted its plan, and was declared the highest evaluated resolution applicant by the Committee of Creditors. The Court considered the constitutional validity of Sections 4 and 6 of the Insolvency and Bankruptcy Code (Amendment) Act, 2019, and the jurisdiction of the National Company Law Tribunal and the National Company Law Appellate Tribunal regarding approved resolution plans.

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Description

The Supreme Court of India heard a group of appeals and writ petitions related to the Insolvency and Bankruptcy Code, 2016, specifically regarding the role of...

Technical Information

File Format: PDF
File Size: 516 KB
Pages: 164
Language: EN
Author: Aravind Raj
Total Downloads: 88
Last Updated: 1 week ago

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