 "Essar Steel")
The second round of bids for Essar Steel will be opened in the presence of lenders on Monday, sources close to the development said.
The offers by three bidders — Numetal (minus Aurora Enterprises), ArcelorMittal, and Vedanta — will be opened in line with the September 7 order of the National Company Law Appellate Tribunal (NCLAT). Numetal was joined by JSW as an investor in a step-down subsidiary and ArcelorMittal with Nippon Steel.
In the second round, Numetal had dropped Aurora Enterprises, of which Rewant Ruia is the ultimate beneficiary, which made its bid eligible. Rewant Ruia is the son of
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