The Delhi High Court recently denied urgent interim relief to leading steel manufacturer-ArcelorMittal Nippon Steel (petitioner) in a claim against GAIL India Ltd., observing that the scope of enquiry.
The court also clarified that “dehors the said observations which are expunged, the order/ judgment would remain in force, to be considered on its merits, if it arises subsequently in any other case.”
The lenders, led by SBI, for Regen Powertech Pvt Ltd (RPPL), have asked for the Supreme Court s guidance regarding the possibility of merging insolvency proceedings for RPPL and its subsidiary, Regen Infrastructure and Services Pvt Ltd (RISPL), in order to expedite debt recovery. The Committee of Creditors (CoC) is challenging the NCLAT s decision to combine the proceedings and invalidate RPPL s approved resolution plan