Deutsche moves NCLT to block ArcelorMittal's takeover of Uttam Galva

Deutsche Bank has moved the National Company Law Tribunal (NCLT) to block ArcelorMittal's INR 4,000-crore takeover of Uttam Galva Steels under the Insolvency and Bankruptcy Code (IBC). It has claimed that it has been wrongly excluded from the insolvency process by Uttam Galva's resolution professional, who has not recognised Deutsche's outstanding claims against the company.