Supreme Court Allows ArcelorMittal To Complete Deal To Acquire Debt-Laden Essar Steel

The bench, headed by Justice RF Nariman, clarified that financial creditors enjoy primacy and the adjudicating authority cannot interfere with the decision approved by the committee of creditors. "No doubt the ultimate discretion on distribution is with the Committee of Creditors (CoC), whose decision should balance the interests of all stakeholders," the bench said.  The top court said that the adjudicating authority can send ba...