Appearing for ArcelorMittal, senior advocate Harish Salve and A M Singhvi argued that the company had not set up UG or KSSP but had made commercial investments in them and had divested its shares much before bidding for Essar Steel, which allegedly defaulted on huge bank loans, part of which were obtained on personal guarantees of Essar promoters Ravi Ruia and Prashant Ruia to SBI. On a petition by SBI, the SC had recently ruled that banks could proceed against the personal guarantor for corporate loan defaults. Read more…
officesinghvi
September 13, 2018 in
Print Media
Related Posts

Press Briefing in AICC on Various Issues-Hindi
April 11, 2019

Puducherry: The political turf war on the seaside
June 8, 2017

Is there need for nationalism in India?
November 27, 2017