35,000 crore, way ahead of its Russian rival VTB-led Numetal which was around Rs. 19,000 crore. Any global investor in any territory would want to see the law applied in a similarly consistent fashion,” Mittal explained.“What we are seeing is as you say some twists and turns which I believe relate to the fact that these are the first test cases for the new code and it will need some time to settle. It seems all the cases have their own complexities,” Mittal senior said. “Ultimately these will be ironed out and that the process will succeed with its fundamental aim which is to deliver a fair and attractive return for creditors and secure capable new owners for the assets in question.

Source: Economic Times May 06, 2018 17:48 UTC