ArcelorMittal is the sole bidder for debt-laden Uttam Galva Steels, where it was once a co-promoter. Six other firms, including JSW Steel, Jindal Steel & Power (JSPL) and Vedanta-owned ESL Steel, had submitted an expression of interest (EOI) for Uttam Galva. But after due diligence, only ArcelorMittal submitted a resolution plan, sources said.
ArcelorMittal did not comment. The date for submission of resolution plans had been extended by two weeks to March 19. The resolution plan was submitted by AM Mining India and a consultant was likely to be appointed to do the usual check ...
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