New Delhi, March 22 -- The National Company Law Appellate Tribunal (NCLAT) on Monday, 18 March, gave conditional approval to Luxembourg-based ArcelorMittal's '42,000 crore bid to take over domestic steel producer Essar Steel. The resolution professional can go ahead with the turnaround plan for Essar Steel involving its sale to ArcelorMittal, but the share of proceeds that lenders and operational creditors are entitled to will be decided later, ruled the two-member bench headed by Justice S.J. Mukhopadhaya. NCLAT will hear appeals by various creditors and decide whether or not the resolution plan is discriminatory to different creditors. The tribunal allowed Standard Chartered Bank to seek advice from the Insolvency and Bankruptcy Board of ...