Essar Steel’s $6 billion sale is said to face delay

MUMBAI: Essar Steel India Ltd’s sale is facing a fresh delay, after creditors of the insolvent firm pushed back a decision on bids from ArcelorMittal and a consortium backed by VTB Group, people with knowledge of the matter said. A committee of Essar Steel creditors, originally slated to convene earlier this week, has postponed a meeting to discuss the offers, according to the people. The interim resolution professional overseeing the sale has asked Essar Steel lenders to provide further clarity on issues relating to the bidders’ eligibility, the people said, asking not to be identified because the information is private.