ArcelorMittal, Numetal rightly disqualified: Essar Steel RP's counsel

The two bidders have defended their eligibility and also filed applications challenging each other's bids

The counsel for Essar Steel’s resolution professional on Thursday defended the disqualification of Numetal and ArcelorMittal in the first round of bids for the stressed asset, at the Ahmedabad Bench of the National Company Law Tribunal (NCLT).

Essar Steel’s resolution professional is Satish Kumar Gupta of Alvarez & Marsal. He is being represented by former advocate general of Maharashtra, Darius Khambatta. 

Khambatta told the two adjudicating member Bench, Harihar Prakash Chaturvedi and Manorama Kumari, that both Numetal and ArcelorMittal were rightly disqualified in the first round of bids held on February 12.

The two bidders have defended their eligibility and also filed applications