Essar Steel Sale

Apex court relaxes 330-day timeline for resolving stressed assets by diluting its mandatory nature

ArcelorMittal may have to clear outstanding dues totalling Rs 70 billion, if it wishes lay its claim as an eligible bidder

ArcelorMittal has already written to the State Bank of India and said that it would repay all dues

Legal sources close to Numetal said if the bids were rejected on commercial terms then the 30-day cure period could be circumvented

Committee of creditors (CoC) for Essar Steel to take call on bids after order by Ahmedabad bench of the National Company Law Tribunal (NCLT)