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The High Court of Delhi has held that once a resolution plan is approved by the CoC and the adjudicating authority, it results in the extinguishment of all the existing claims that any party may...
The dispute emanated from a gas supply agreement entered into between Essar Steel Limited and IOCL in 2009, prior to Essar being taken over by Arcelor Mittal Nippon Steels almost a decade later
According to the lenders, Florian Fritsch, JKC 's foreign partner
The filing further alleges that Florian Fritsch, JKC 's foreign partner has never come forward or even met the lenders at any stage though requested by them
Swan Energy, the company that won the bid to buy Reliance Naval and Engineering Ltd, has been asked by the Ahmedabad bench of NCLT to make the upfront payment as proposed in the resolution plan. Swan Energy has not made the payment of around Rs 250 crore and has requested a third extension.