NCLAT may give ArcelorMittal & Numetal more time in Essar Steel case

NCLAT may give ArcelorMittal & Numetal more time in Essar Steel case

Mint reported that the National Company Law Appellate Tribunal (NCLAT) on Monday hinted at giving a chance to both Numetal Ltd and ArcelorMittal India Ltd, the resolution applicants who submitted bids for Essar Steel Ltd, to cure ineligibilities after which revised bids may be invited from the companies.

NCLT directs Essar lenders to reconsider Arcelor, Numetal bids

NCLT directs Essar lenders to reconsider Arcelor, Numetal bids

The Ahmedabad Bench of the National Company Lay Tribunal (NCLT) on Thursday said the second round of bidding for bankrupt Essar Steel held on 2 April is invalid and directed the resolution professionals and the committee of creditors (CoC) to reconsider the first round of bids and reconsider offers from ArcelorMittal and Numetal.

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