The National Company Law Appellate Tribunal (NCLAT) has dismissed the plea of Jindal Stainless Ltd, one of the bidders for debt-ridden Mittal Corp, challenging the issuance of a fresh Request for Resolution Plan (RFRP) by the lenders. A two-member NCLAT bench observed that the lenders of Mittal Corp were empowered to issue a fresh RFRP when none of the resolution
The Chandigarh Bench of the NCLT (National Company Law Tribunal) has convened a meeting of the shareholders and creditors of Jindal Stainless Limited and Jindal Stainless (Hisar) Limited for approving the scheme of merger of the two companies. The first motion petition was filed with NCLT in March, 2021 after the board of JSL and group companies had approved the
