SC’s status quo on Essar Steel sale to ArcelorMittal

The Supreme Court on Monday ruled status quo on the sale of Essar Steel to Arcelor Mittal.

A bench headed by Justice Rhinton F. Nariman admitted the appeals by Essar Steel lenders and Arcelor Mittal challenging the order of the National Company Law Appellate Tribunal (NCLAT).

The court said it will conduct detailed hearing on the contentions made in the appeal, and also look into the issues emerging from the Essar verdict. The top court will hear the matter at length after two weeks.