While ArcelorMittal was a promoter in Uttam Galva Steels that has defaulted on its loans, Numetal's bid was held to be ineligible since one of the persons associated with the company – Rewant Ruia – is related to the promoters of Essar Steel. Following the first round, ArcelorMittal is also believed to have infused close to Rs 3,000 crore in Uttam Galva to help it settle its dues. And the company has itself offered to settle creditors dues in full by inducting a foreign investor. VTB Bank, the promoter of Numetal, has also declared its intent to buy out the stake of Aurora Enterprises to dissociate itself from Ruia. In fact, it had roped in JSW Steel for its bid in the second round, to strengthen its case. Bankers who are peeved at having to reconsider the bids they had rejected are likely to insist on the eligibility criteria being met fully before taking the process ahead.