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The Supreme Court of India ruled on the ineligibility of resolution applicants ArcelorMittal India Pvt. Ltd. and Numetal Ltd. under Section 29A of the Insolvency and Bankruptcy Code, 2016, in the case concerning Essar Steel India Ltd. The court found that both applicants were ineligible due to their connections with entities classified as non-performing assets and their reliance on shareholders for compliance with eligibility requirements. The judgment emphasized the importance of adhering to the provisions

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sanatnandkishore

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