More than a decade after his first abortive bid, steel baron Lakshmi Niwas Mittal moved closer to his plans to enter the Indian steel industry on Friday. After over a year of legal wrangles with bidders, courts and banks, the Ahmedabad bench of National Company Law Tribunal (NCLT) on Friday approved ArcelorMittal’s resolution plan for debt-laden Essar Steel Ltd.
NCLT approves ArcelorMittal’s takeover bid for debt-laden Essar Steel
Date posted: Monday 11 March 2019