Numetal moves NCLT to reinforce its eligibility for Essar Steel

Firm fears that full facts submitted by it for determining its eligibility to submit a Resolution Plan haven't been properly assessed

Numetal Limited (a VTB Bank of Russia company) filed an Application before the NCLT, Ahmedabad seeking a declaration that Numetal is eligible to submit a resolution plan for Essar Steel. The NCLT has sent a notice to the lenders committee and has said CoC meeting today will be subject to its ruling.

Numetal's other key shareholders include TyazhPromExports (TPE) of Russia and Indo International. Aurora is a 25 per cent minority shareholder with no right to directorship and management of Numetal, it said. 

Numetal apprehends that full facts submitted by it for determining its eligibility to submit a Resolution Plan have not