In a big relief to the ArcelorMittal Group, the Bench comprising of HMJ Jarat Kumar Jain (Member Judicial) and Hon'ble Mr. Kanthi Narahari (Member Technical) of the National Company Law Appellate Tribunal, New Delhi dismissed the various appeals challenging the approval of the Resolution Plan filed by ArcelorMittal India Private Limited for the corporate insolvency resolution process of Odisha Slurry Pipeline Infrastructure Limited.
Earlier, the Ld. Adjudicating Authority, Cuttack on 02.03.2020 approved the resolution plan of ArcelorMittal India Private Limited pursuant to the unanimous approval by the Committee of creditors in respect thereof and rejected all the objections raised in this regard by the various stakeholders/creditors.
Mr. Harish N. Salve Sr. Advocate and Mr. Neeraj Kishan Kaul, Sr. Advocate appeared and argued on behalf of ArcelorMittal Group. The ArcelorMittal Group was advised and represented by a legal team comprising of Ms. Ruby Singh Ahuja, Mr. Vishal Gehrana, Ms. Ashutosh Shukla and Mr. Varun Khanna from Karanjawala & Company, Mr. Sudhir Sharma and Mr. Naman Bagga from L&L Partners and Mr. Ashim Sood, Advocate.