This suggested that the current petition by Essar Steel Asia Holding was merely an attempt to delay the possible execution of the ArcelorMittal resolution plan, they added. As is known, more than 90% of CoC had voted in favour of the bid by ArcelorMittal which has promised Rs 39,500 crore by way of cash upfront and currently awaits approval from NCLT for execution. A day after, Essar Steel promoters offered to pay Rs 54,389 crore towards a full settlement of the entire admitted claims of the financial creditors, operational creditors, and workmen and employees of Essar Steel. The package included an upfront cash payment of Rs 47,507 crore to all creditors, including a payment of Rs 45,559 crore to the senior secured financial creditors. Subsequently, Essar Steel Asia Holdings, which is a holding company of Essar Steel, filed a caveat in NCLT that it be allowed to plead its case before any orders are passed in the matter.