New Delhi: Lawyer Haren Raval counsel for Essar Steel Asia Holdings Ltd has alleged that ArcelorMittal India had knowingly filed a false affidavit pertaining to NPAs on October 18, 2018. Raval made these allegations during the National Company Law Appellate Tribunal (NCLAT) hearing of the Essar Steel bankruptcy proceedings on Wednesday. ArcelorMittal India, Raval said, had knowingly filed the false affidavit, saying that they had cured all the ineligibilities (NPAs of related entities) as directed by the Supreme Court in its October 4, 2018 order. Raval submitted a detailed note before the NCLAT to substantiate his claims and said ArcelorMittal India was guilty of misleading and suppressing the facts. To this the bench asked the lawyer of Essar Steel Asia Holding Ltd to file a written submission.

Source: Mint May 16, 2019 06:11 UTC