Beena Parmar
Moneycontrol News
The Gujarat High Court will be hearing Essar Steel’s plea today challenging the Reserve Bank of India’s order directing lenders to refer the debt-laden company to the National Company Law Tribunal. In many ways, the verdict will have a bearing on the future course of resolution proceedings under the Insolvency and Bankruptcy Code.
On Friday last week, the High Court had adjourned the case to July 12 after hearing out the lawyers of Essar Steel.
CNBC-TV18 reports that the central bank presenting its case today said it is not treating Essar Steel differently but following a statutory process to resolve the NPA mess and the company was far from reaching its restructuring stage. If Essar claims i…
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