Numetal eligible to bid for Essar Steel : NCLAT

7 Sep
Numetal eligible to bid for Essar Steel : NCLAT

The National Company Law Appellate Tribunal (NCLAT) on Friday set aside the order of National Company Law Tribunal (NCLT) Ahemdabad Bench order.

NCLAT tooday said that Numetal and ArcelorMittal are eligible to bid for Essar Steel. ArcelorMittal has three days to clear its dues and become a standard asset to bid for Essar Steel. NCLAT has ordered that Committee of Creditors (CoC) should negotiate to get the highest value.