Electrosteel Steels’ resolution professional (RP) on Monday submitted Vedanta’s resolution plan before the Kolkata bench of National Company Law Tribunal for final disposal after lenders declared it as “successful resolution applicant”.
However, Renaissance Steel, one of the resolution applicants, was opposing the Committee of Creditors’ (COC) decision in respect to eligibility of its rival bidders, Vedanta Ltd and Tata Steel.
A counsel, appearing for Renaissance, said: “We are opposing the CoC’s decision on eligibility of Vedanta and Tata. We also opposed the resolution plan (of Vedanta).”
Following a direction from the Tribunal, the CoC to the insolvent steel producer had decid…
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