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Essar Steel’s CoC sets up panel to oversee transition-- The 20th China (Guangzhou) Int’l Plate metal, Bar, wire, Metal Processing &Setting Equipment Exhibition
4/10/2019 金屬板材展-棒材-線材展 -plate metal expo-wire expo |
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The Hindu reported that Essar Steel’s committee of creditors has set up a monitoring committee to oversee the operations of the steel firm and ensure smooth transition to ArcelorMittal, the successful resolution applicant. The monitoring committee is headed by resolution professional Satish Gupta and has four members from the lenders and three from ArcelorMittal. The lenders, SBI, IDBI Bank, ICICI and Edelweiss Asset Reconstruction Company, have their representatives as members of the monitoring committee.
The development comes after the National Company Law Appellate Tribunal asked the CoC to set up a monitoring committee to oversee the operations of the steel firm and smooth transition to ArcelorMittal. The resolution professional will be the chairperson of the monitoring committee and will act in accordance with law to ensure that the company is a going concern
金屬板材展-線材展-金屬加工展-2019第二十屆廣州國際金屬板材、棒材、線材及金屬加工設備展—全球三大金屬展之一巨浪展覽
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