Renaissance Steel India on Monday said it will file an application before the Kolkata bench of the National Company Law Tribunal (NCLT), challenging the decision of the Committee of Creditors (CoC) that Vedanta and Tata Steel are eligible bidders for Electrosteel Steels.
We will be filing an application challenging the CoCs decision to consider Vedanta and Tata as eligible bidders, said advocate Ratnanko Banerjee, the counsel for Renaissance.
Abhishek Dalmia-led Renaissance Steel, one of resolution applicants for Electrosteel Steels, had earlier said Vedanta and Tata were not eligible to bid as per Section 29A of the Insolvency and Bankruptcy Code (IBC) since there were allegations of criminal offences that are punishable with two or mor…
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