NCLT Mumbai clears resolution plan of Arcelor Mittal subsidiary for Indian Steel Corporation

The steel corporation was admitted into the corporate insolvency resolution process in October 2021 after India Resurgence ARC moved against the company for a financial debt of over ₹2,700 crores

A Mumbai bench of the National Company Law Tribunal has approved the resolution plan submitted by AM Mining India Pvt Ltd, a subsidiary of Arcelor Mittal for Indian Steel Corporation (ISC). [India Resurgence ARC Private Limited v. Indian Steel Corporation Ltd.]

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