{"id":54304,"date":"2018-10-04T18:24:38","date_gmt":"2018-10-04T12:54:38","guid":{"rendered":"https:\/\/www.legalindia.com\/news\/?p=54304"},"modified":"2018-10-04T18:24:46","modified_gmt":"2018-10-04T12:54:46","slug":"sc-grants-one-more-opportunity-to-arcelormittal-numetal-to-bid-for-essar-steel-2","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/news\/sc-grants-one-more-opportunity-to-arcelormittal-numetal-to-bid-for-essar-steel-2","title":{"rendered":"SC grants one more opportunity to ArcelorMittal, NuMetal to bid for Essar Steel"},"content":{"rendered":"\n<p><strong>New Delhi:<\/strong>The Supreme Court Thursday granted one more opportunity to mining major ArcelorMittal and Russia&#8217;s VTB Capital-backed NuMetal to bid for Essar Steel if they clear their NPA dues in two weeks.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>A bench comprising Justices R F Nariman and Indu Malhotra held that both the firms were ineligible under amended Insolvency and Bankruptcy Code to bid for the firm but granted them a fresh opportunity after taking note of the plea of Committee of Creditors that it does not want liquidation of Essar Steel.<\/p>\n\n\n\n<p>The apex court exercised its extraordinary power under Article 142 of the Constitution in allowing ArcelorMittal and NuMetal to make fresh bid for Essar Steel.<\/p>\n\n\n\n<p>The top court asked the Committee of Creditors to take a decision within eight weeks on rival bids of NuMetal and ArcelorMittal for Essar Steel.\n\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New Delhi:The Supreme Court Thursday granted one more opportunity to mining major ArcelorMittal and Russia&#8217;s VTB Capital-backed NuMetal to bid for Essar Steel if they clear their NPA dues in two weeks. A bench comprising Justices R F Nariman and Indu Malhotra held that both the firms were ineligible under amended Insolvency and Bankruptcy Code [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[43448,19772,43449],"class_list":["post-54304","post","type-post","status-publish","format-standard","hentry","category-top-law-news","tag-arcelormittal","tag-essar-steel","tag-numetal"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SC grants one more opportunity to ArcelorMittal, NuMetal to bid for Essar Steel - Legal News India - Supreme Court &amp; High Court Updates<\/title>\n<meta name=\"description\" content=\"New Delhi:The Supreme Court Thursday granted one more opportunity to mining major ArcelorMittal and Russia&#039;s VTB Capital-backed NuMetal to bid for Essar - Get the latest legal news from the Supreme Court, High Courts, and government. 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Be it real estate\u2026","rel":"","context":"In &quot;Top Law News&quot;","block_context":{"text":"Top Law News","link":"https:\/\/www.legalindia.com\/news\/category\/top-law-news"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2019\/01\/sc.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":56850,"url":"https:\/\/www.legalindia.com\/news\/supreme-court-orders-status-quo-in-essar-insolvency-case","url_meta":{"origin":54304,"position":2},"title":"Supreme Court orders status quo in Essar insolvency case","author":"Legal India Admin","date":"July 22, 2019","format":false,"excerpt":"The Supreme Court Monday ordered status quo as of today in the Essar insolvency case. A bench headed by Justice R F Nariman said the monitoring committee will continue its work till the case is heard on August 7. The bench was hearing a plea of the Committee of Creditors\u2026","rel":"","context":"In &quot;High Profile Cases&quot;","block_context":{"text":"High Profile Cases","link":"https:\/\/www.legalindia.com\/news\/category\/high-profile-cases"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2019\/05\/download-6.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":25147,"url":"https:\/\/www.legalindia.com\/news\/river-water-use-notice-to-centre-odisha-essar","url_meta":{"origin":54304,"position":3},"title":"River water use: Notice to Centre, Odisha &#038; Essar","author":"Legal India Admin","date":"December 24, 2012","format":false,"excerpt":"The National Green Tribunal (NGT) has sought replies of the Union and the Odishagovernments and Essar Steel BSE 0.41 % to a plea accusing the firm of drawing water from Baitarani river without forest clearance to facilitate iron ore transport. An NGT bench of its acting Chairman Justice A S\u2026","rel":"","context":"In &quot;Top Law News&quot;","block_context":{"text":"Top Law News","link":"https:\/\/www.legalindia.com\/news\/category\/top-law-news"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":48093,"url":"https:\/\/www.legalindia.com\/news\/sc-asks-essar-pay-rs-1038-27-cr-guj-govt-power-duty","url_meta":{"origin":54304,"position":4},"title":"SC asks Essar to pay Rs 1038.27 cr to Guj Govt as power duty","author":"Legal India Admin","date":"May 3, 2017","format":false,"excerpt":"The Supreme Court today dismissed the appeals of Essar Steel and Essar Power and upheld the Gujarat High Court's order holding them liable to pay Rs 1038.27 crore towards electricity duty to the state government. \"We are dismissing the appeals,\" a bench of Justices A K Sikri and Ashok Bhushan\u2026","rel":"","context":"In &quot;Top Law News&quot;","block_context":{"text":"Top Law News","link":"https:\/\/www.legalindia.com\/news\/category\/top-law-news"},"img":{"alt_text":"SC asks Essar to pay Rs 1038.27 cr to Guj Govt as power duty","src":"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2017\/03\/SC-upholds-life-term.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":15962,"url":"https:\/\/www.legalindia.com\/news\/2g-scam-loop-telecom-essar-move-high-court","url_meta":{"origin":54304,"position":5},"title":"2G scam: Loop Telecom, Essar move high court","author":"Legal India Admin","date":"January 5, 2012","format":false,"excerpt":"Loop Telecom and Essar Group, accused in the 2G spectrum scam, Thursday moved the Delhi High Court pleading that their case should not be heard by a special CBI court as they have not been charged under the Prevention of Corruption Act. Justices B.D. Ahmed and V.K. Jain will hear\u2026","rel":"","context":"In &quot;High Profile Cases&quot;","block_context":{"text":"High Profile Cases","link":"https:\/\/www.legalindia.com\/news\/category\/high-profile-cases"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"jetpack_shortlink":"https:\/\/wp.me\/p6H5Bf-e7S","jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/posts\/54304","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/comments?post=54304"}],"version-history":[{"count":0,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/posts\/54304\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/media?parent=54304"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/categories?post=54304"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/tags?post=54304"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}