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Essar Steel case verdict: SC sets aside NCLAT order, upholds CoC's rights over claim distribution

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The Supreme Court has set aside the NCLAT judgment in Essar Steel case paving the way for distribution of claims as decided by the Committee of Creditors. Upholding the rights of lenders in the Essar Steel insolvency case, the Supreme Court has held that the ultimate discretion of distribution of claims lies with the Committee of Creditors.

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