# In the matter of SREI Multiple Asset Investment Trust vs. Arcelormittal India Pvt. Ltd. and Ors.

> NCLAT judgment dated 2025-07-24. Citation: TCN-2025-NCLAT-00313. The case involves multiple Interlocutory Applications (IAs) filed in Company Appeal (AT)…

- **Court:** NCLAT
- **Order date:** 24 Jul 2025
- **Citation:** TCN-2025-NCLAT-00313
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/srei-multiple-asset-investment-trust-vs-arcelormittal-india-pvt-ltd-and-ors-7816a5df

## Summary

### Background

The case involves multiple Interlocutory Applications (IAs) filed in Company Appeal (AT) (Insolvency) No. 1038 of 2020 and No. 1043 of 2020. These appeals challenge an order dated 10.11.2020 passed by the National Company Law Tribunal (NCLT), Ahmedabad, regarding the Corporate Insolvency Resolution Process (CIRP) of Essar Steel India Ltd. and Odisha Slurry Pipeline Infrastructure Ltd. (OSPIL). The IAs primarily seek impleadment or intervention in the appeals.

## Facts

Corporate Insolvency Resolution Process (CIRP) of Essar Steel India Ltd. commenced on 02.08.2017.

A Resolution Plan was submitted by Arcelor Mittal India Pvt. Ltd. and approved by NCLT Ahmedabad on 08.03.2019.

The Committee of Creditors (CoC) of Essar Steel challenged the approval, but the Supreme Court upheld the Resolution Plan on 15.11.2019.

Essar Steel was acquired by Arcelor Mittal Nippon Steel India Ltd. after the Supreme Court's judgment.

SREI Infrastructure Finance Ltd. filed IA No.245 of 2020 before NCLT Ahmedabad, which was allowed on 10.11.2020, directing Arcelor Mittal Nippon to pay right to use charges as CIRP cost.

CIRP of Odisha Slurry Pipeline Infrastructure Ltd. (OSPIL) was initiated based on an application by IDBI Bank under Section 7 of the IBC.

…

## Issues and analysis

### Issue 1: Whether the requirements, which need to be fulfilled by a third-party to a proceeding, who is …

**Ratio:** A person may be added as a party to a suit who has a direct interest in the subject

…

**Reasoning:** The court relies on several judgments of the Supreme Court, including Razia Begum, Udit

…

**Interpretation:** The power under Rule 8A empowers the Court to seek assistance on a question of

…

**Application:** The court applies these principles to the facts of the case to determine

…

## Parties

- **Judges:** Ashok Bh…
- **Appellants:** Arcelormittal…; Arcelormittal…; +4 more
- **Respondents:** Essar Steel India…; Odisha Slurry…; +3 more
- **Other parties:** Committee of…; CoC of…; +4 more
- **Advocates:** Krishnendu…; Sanyat…; +35 more

## Timeline

- **2017-08-02 — CIRP Commen…**: Corporate Insolvency Resolution Process (“CIRP”) of Essar Steel India Ltd. commenced by…
- **2019-03-08 — Resolution Plan…**: Adjudicating Authority, NCLT Ahmedabad vide order 08.03.2019 approved the Resolution Plan…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclat-new-delhi/srei-multiple-asset-investment-trust-vs-arcelormittal-india-pvt-ltd-and-ors-7816a5df