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NuMetal ineligible to bid for Essar Steel: ArcelorMittal to SC

Updated : September 14, 2018 06:42 AM IST

The NCLAT had asked ArcelorMittal to clear the stigma of defaulter by clearing the dues of Uttam Galva Steel and KSS Petron in which it had shares.
It had ruled that NuMetal's second bid for Essar Steel was eligible but the same by ArcelorMittal will qualify only if it cleared the Rs 7,000 crore dues of the two firms it was previously associated with.
NuMetal ineligible to bid for Essar Steel: ArcelorMittal to SC

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