India Digest: Essar Steel seeks rejection of ArcelorMittal bid; IOB plans to raise $121m

India Digest: Essar Steel seeks rejection of ArcelorMittal bid; IOB plans to raise $121m

Photo: Reuters

A shareholder of Essar Steel Ltd has moved the National Company Law Appellate Tribunal (NCLAT) seeking rejection of ArcelorMittal’s Rs 42,000 crore bid for the bankrupt company. In another development, Indian Overseas Bank said it plans to raise Rs 850 crore via sale of non-core assets.

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