Another twist in Essar Steel case as BPCL seeks its liquidation at NCLT

GPI Textile's RP too seeks quashing of ArcelorMittal's resolution plan over non-payment of dues

In a yet another turn to the insolvent Essar Steel Ltd (ESL) case, one of its operational creditors (OCs), Bharat Petroleum Corporation Limited (BPCL), on Monday sought the steelmaker's liquidation at the National Company Law Tribunal (NCLT)'s Ahmedabad bench. 

BPCL objected to the Rs 42,389 crore resolution plan of ArcelorMittal which has been approved by 92 per cent of ESL's Committee of Creditors (CoC) before NCLT's two-members bench, consisting of adjudicating authorities Harihar Prakash Chaturvedi and Manorama Kumari. 

BPCL's legal counsel argued that if sent into liquidation, there was possibility for it to recover in full its dues worth Rs