The National Company Law Appellate Tribunal (NCLAT) has directed the resolution professional, committee of creditors and NCLT not to pass any order in the matter related to insolvency resolution of Essar Steel.
The appellate tribunal also admitted the cross petitions filed by Russia's VTB Capital-based NuMetal and Arcelor Mittal, two resolution applicant challenging their disqualification for Essar Steel.
"Appeals admitted. List for hearing on July 23," said an NCLAT bench headed by Chairman Justice S J Mulhopadhaya.
It further added, "Until further order RP, CoC and adjudicating authority (NLT) will not pass any order including order of liquidation of corporate debtor."