Numetal: Was 'ineligibility' of L N Mittal's brothers considered? Noor Arora
Numetal, a bidder for Essar Steel, has written to Essar Steel’s resolution professional (RP) and State Bank of India (part of the committee of creditors), seeking to know whether the “ineligibility” of ArcelorMittal promoter L N Mittal’s brothers — Pramod and Vinod Mittal — had been taken into account in deciding the eligibility of the Luxembourg-based company. Numetal has sought the information preferably by Tuesda, when its application against the National Company Law Appellate Tribunal (NCLAT) order is likely to be taken up in the Supreme Court. The letter mentions facts that were placed before the National Company Law Tribunal (NCLT) and NCLAT to establish that ArcelorMittal India Private Ltd (AM) was disqualified under Section 29A of the Insolvency and Bankruptcy Code by virtue of Pramod Mittal and or Vinod Mittal facing ineligibility by being promoters of Gontermann-Peipers and Ispat Profiles India Ltd. Other companies mentioned in the letter in the same vein were Chhattisgarh Energy Ltd, Balasore Alloys Limited, GPI Textiles.
ARTICLE SOURCE: BS