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Numetal approaches NCLT to reassess eligibility for Essar Steel bidding process


The regulatory body heard Numetal's plea in Ahmedabad on Wednesday. The next hearing is on April 4.

After being considered as ineligible for Essar Steel initial bidding process, Numetal has approached the Nation Company Law Tribunal (NCLT) to reinforce its eligibility to bid for the firm.
The resolution professional had earlier claimed that both the bidders for Essar Steel — Numetal and ArcelorMittal — were found 'not eligible' leading to a fresh bidding process.
The regulatory body heard Numetal's plea in Ahmedabad on Wednesday. The next hearing is on April 4.
NCLT observed that any decision taken by the committee of creditors(COC) in the March 21 meeting will be subject to the outcome of its order in the matter.
Numetal has apprehended that the resolution profession did not assess all the facts of its bid properly to determine the eligibility status. The firm has placed all the facts before NCLT for an objective assessment.

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