Essar Steel insolvency case: IRP seeks suggestions on resolution plan

Applicants can submit their suggestions on Oct 25, at or before 5 pm

National Company Law Tribunal-appointed resolution professional asked applicants to submit resolution plans for Ruias-owned Essar Steel by October 23. 

Any potential applicant planning to submit a resolution plan has to provide documents satisfying eligibility criteria specified on the Essar Steel website, a public notice said on Friday.

The consideration, evaluation and approval of eligible resolution plans will be by the Committee of Creditors under the provisions of the Insolvency and Bankruptcy Code, informed the notice. 

Essar Steel is an integrated steel producer with an installed yearly capacity of 10 million tonnes in Gujarat. In June, the Reserve Bank of India directed lenders to