09
Oct
13:07
Court conditionally clears ArcelorMittal, Numetal bids for Essar
India’s Supreme Court has cleared ArcelorMittal and Numetal to resubmit their resolution plans for Essar Steel (ESIL) under the condition they settle relevant debts by 18 October.
The court found that both ArcelorMittal and Numetal were technically ineligible to bid under the Insolvency and Bankruptcy Code, because of their links to entities that had defaulted on payments.
However, Gopal Subramanium, learned Senior Advocate appearing on behalf of ESIL&#…
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