ArcelorMittal, others bid for 2nd round of Essar Steel; hearing on Thursday

In the second round, apart from ArcelorMittal and Numetal, Vedanta is in the fray. Also, JSW is partnering Numetal

Legal counsels for resolution professional (RP), the committee of creditors (CoC) and ArcelorMittal on Wednesday prayed for the second round of bids for Essar Steel to be opened at the earliest at the National Company Law Tribunal (NCLT) Ahmedabad bench. 

The next hearing is slated for April 5, when the RP's legal counsel Darius Khambatta will make his arguments. The three parties prayed to the tribunal bench to allow the opening of bids after Khambatta makes his arguments. The prayer was made in the wake of the 270-day insolvency proceedings deadline ending on April 29.

In the first round too,