Essar Steel resolution case: Arcelor, Numetal may get 7 days to pay dues

The committee of creditors (CoC) in the Essar Steel resolution case considered giving ArcelorMittal and Numetal seven days to clear outstanding dues to become eligible.

The committee of creditors (CoC) in the Essar Steel resolution case met on Saturday and considered giving ArcelorMittal and Numetal seven days to clear outstanding dues to become eligible. 

The CoC would, however, have to vote on the resolution to complete the process and notices to the companies would be issued thereafter, said sources close to the development. The voting could take place on Monday. 

If the resolution goes through, ArcelorMittal would have to make payments on account of Uttam Galva Steels and KSS Petron to become eligible. Numetal, too, would have make payments to regularise the Essar account due to