Breaking: Supreme Court orders ArcelorMittal and Numetal to clear dues to resubmit resolution plans

Murali Krishnan October 4 2018

The Supreme Court today ordered both ArcelorMittal and Numetal to pay their dues in two weeks. The Court has afforded one more opportunity to both the bidders to pay off their NPAs.

Once the dues are cleared, the bidders can resubmit their resolution plans within eight weeks.

The judgment was delivered by a Bench of Justices Rohinton Nariman and Indu Malhotra. The Bench has modified the NCLAT order, which held that Numetal is eligible to bid for Essar Steel, by ordering Numetal to clear its . . .

This content is restricted to subscribers