Numetal’s eligibility is linked to the shareholding of Arora Enterprises Ltd, which has already exited from Numetal. New Delhi: The NCLAT on Wednesday reserved its order on the petitions filed by world’s largest steel manufacturer ArcelorMittal and Russia’s VTB Capital-backed Numetal over issues pertaining to the eligibility of their bids for taking over debt-ridden Essar Steel. While reserving its judgment, …
Numetal said ArcelorMittal should have first cleared dues by making upfront payment before submitting its resolution plan for Essar Steel New Delhi: Russia’s VTB Capital-backed Numetal Ltd, which is in the race to acquire Essar Steel, on Monday alleged that rival ArcelorMittal India Ltd is not eligible to bid for the debt-ridden company under the IBC as it was the …
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