Kolkata: The National Company Law Tribunal’s (NCLT) Kolkata bench on Monday approved Vedanta Ltd’s resolution plan for the insolvent Electrosteel Steels Ltd, one of the 12 large corporate defaulters identified by the Reserve Bank of India.
During the insolvency proceedings, the debt-laden company’s resolution professional, Dhaivat Anjaria, had submitted Vedanta’s resolution plan before the bench for final disposal after lenders declared it as “successful resolution applicant”.
“The approved (by Committee of Creditors) resolution plan shall come into force with immediate effect,” the order said.
Vedanta informed stock exchanges that it was declared “successful resolution applicant” under the Corporate Insolvency Resolution Process …
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