NCLT Rejects Ruias' Bid to Re-take Essar Steel; Company Hints at Challenging Verdict

The settlement proposal presented to the consortium of lenders by the billionaire Ruia family was not 'maintainable', and it would not be illegal for the banks to reject the offer, the National Company Law Tribunal said.

from Top Business News- News18.com http://bit.ly/2MIS5Fu