NCLAT to hear ArcelorMittal's plea challenging Royale Partners' bid on EPC Construction on 8 August

The National Company Law Appellate Tribunal's direction came over a petition filed by ArcelorMittal

Press Trust of India July 16, 2019 10:54:35 IST
NCLAT to hear ArcelorMittal's plea challenging Royale Partners' bid on EPC Construction on 8 August
  • A three-member bench has asked the parties to complete their pleading by filing their reply and rejoinder over it

  • The National Company Law Appellate Tribunal's direction came over a petition filed by ArcelorMittal

  • The Tribunal has issued a notice to Resolution Professional and Royale Partners Investment Fund, directing them to file reply within two weeks

New Delhi: The NCLAT on 8 August will hear global steel major ArcelorMittal's plea, challenging Royale Partners' bid to acquire EPC Construction India Ltd (ECIL), currently under insolvency proceedings.

A three-member bench headed by Chairman Justice S J Mukhopadhaya has asked the parties to complete their pleading by filing their reply and rejoinder over it, and directed to list the matter on 8 August.

NCLAT to hear ArcelorMittals plea challenging Royale Partners bid on EPC Construction on 8 August

Representational image. Getty Images

The National Company Law Appellate Tribunal's direction came over a petition filed by ArcelorMittal, which has challenged the order of the Mumbai bench of National Company Law Tribunal (NCLT).

The NCLT has rejected ArcelorMittal's plea against bid of Royale Partners Investment Fund for ECIL, formerly Essar Projects India.

Earlier on 16 May, passing an interim order, the NCLAT had said if any resolution plan is approved for the company, then it would be subject to the final outcome of its order.

"During the pendency of the appeal, if any, plan is approved, the same shall be subject to the decision of this appeal," the NCLAT had said.

The appellate tribunal had also issued a notice to Resolution Professional and Royale Partners Investment Fund, directing them to file reply within two weeks.

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