more-inRenaissance Steel has approached the National Company Law Appellate Tribunal (NCLAT) requesting it to declare “ineligible” Tata Steel’s bid for the debt-ridden Electrosteel Steels under the Insolvency and Bankruptcy Code. An NCLAT bench headed by Chairman Justice S J Mukhopadhyaya has issued a notice to Tata Steel, which was the second-highest bidder, and the resolution professional of Electrosteel. It has also directed them to file a reply within a week and directed the matter to be listed for hearing on May 28.

Source: The Hindu May 18, 2018 15:22 UTC