Lakshmi Mittal’s entry into Indian steel market gets a little easier
Court rejects plea against ArcelorMittal’s bid for Essar Steel
04 July 2019 - 16:42
New Delhi — An Indian court rejected on Thursday a petition challenging ArcelorMittal’s proposed takeover of debt-ridden Essar Steel, removing a hurdle in billionaire Lakshmi Mittal’s entry into the country’s fast-growing steel market.
The National Company Law Appellate Tribunal (NCLAT) said that the Supreme Court had already cleared the takeover bid and therefore it could not consider the appeal by Essar’s founders, Shashi Ruia and Ravi Ruia, lawyer Ravin Kapur said...
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