Veena Mani, Ishita Ayan Dutt And Surajeet Dasgupta

Bankruptcy code clips ArcelorMittal's India expansion plans

In 2009, ArcelorMittal had picked up a stake in Uttam Galva Steels. A new Section 29A of the IBC prohibits promoters of companies with NPAs of more than a year from bidding for these companies.