ArcelorMittal may have to shell out up to Rs. 17,000 cr to be eligible to bid for Essar Steel

摘要

A day after the Supreme Court directedArcelorMittal and Russian VTB Bank-promotedNumetal Mauritius to clear all the dues tobecome eligible for Essar Steel bidding, theCommittee of Creditors is calculating the overalldefaulted amount the bidders have to settle.In the case of Lakshmi Mittal-ownedArcelorMittal, banking sources said the paymentcould range between Rs.13,000 crore andRs.17,000 crore, much higher than the originaldues of Rs.7,000 crore.