NCLT allows new claims of Rs 8 bn against Monnet Ispat & Energy

RP and CoC to consider the claims, and submit resolution plan next week

The National Company Law Tribunal’s (NCLT) Mumbai bench on Tuesday morning instructed the resolution professional (RP), appointed to oversee Monnet Ispat and Energy Ltd (MIEL), to consider the new claims made against the corporate debtor and place them before the committee of creditors (CoC).  

A source close to the deal told Business Standard that the committee of creditors will be meeting on Saturday to clear these new claims worth Rs 8.09 billion in total, in addition to prospective acceptance of the bid-offer made by JSW Steel and AION Investments.

MIEL is one of the twelve large non-performing asset accounts referred