Essar Steel cannot discriminate between operational creditors

Essar Steel cannot discriminate between operational creditors
24/04/2019 , by , in ALLIED

The National Company Law Appellate Tribunal on Tuesday observed that the Committee of Creditors of Essar Steel cannot discriminate between operational creditors of the debt-ridden firm.

The lenders of Essar Steel divided operational creditors of the company into two types—one with claims under Rs 1 crore, and another over Rs 1 crore. During the proceedings, the NCLAT bench headed by ChairmanJustice SJ Mukhopadhaya said that the operational creditors cannot not be treated differentially

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