 "ArcelorMittal held a 29.05 per cent stake in Uttam Galva Steels")
In yet another hurdle for ArcelorMittal in its race to acquire Essar Steel, the resolution professional (RP) of Pramod Mittal’s GPI Textiles has written to the Committee of Creditors (CoC) of Essar Steel, saying that ArcelorMittal should also pay the firm (GPI Textiles) its dues.
Pramod is the younger brother of LN Mittal.
The RP of GPI Textiles has also filed a caveat in the National Company Law Tribunal (NCLT) asking for a hearing before it clears the ArcelorMittal proposal.
Since Pramod is the younger brother of LN Mittal, he will be in the relative category, according to Section 29A of the
