Former Essar Steel directors approach NCLAT against takeover

Three directors of erstwhile board of Essar Steel on Monday approached National Company Law Appellate Tribunal (NCLAT) against the NCLT order that allowed ArcelorMittal to take over the cash-strapped company. The bankruptcy court had on Friday approved the Lakshmi Mittal-led company's ₹42,000-crore bid for Essar Steel. It also suggested that ArcelorMittal's payment be distributed among creditors.