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India"s NCLT OKs ArcelorMittal"s Resolution Plan For Essar Steel

India"s NCLT OKs ArcelorMittal"s Resolution Plan For Essar Steel.....»»

Category: topSource: seekingalphaMar 15th, 2019

News digest: Metal prices, battle for Essar Steel, Air India sale, and more

Analysts expect cuts in corporate margins in the forthcoming quarters, given the negative correlation between metal prices and operating margins of domestic manufacturers.....»»

Category: topSource: business-standardApr 22nd, 2018

Insolvency proceedings: Uttam Galva Steels asks lenders for counter-offer

If Uttam Galva's dues are paid, it could smoothen ArcelorMittal's bid for Essar Steel.....»»

Category: topSource: business-standardApr 22nd, 2018

Nagarjuna Oil Corp to be liquidated as resolution plan fails: promoters

Nagarjuna Oil Corporation Ltd (NOCL) has informed the National Company Law Tribunal (NCLT), Chennai, that its Committee of Creditors (CoC) has taken decision to go for liquidation of the company, as the efforts to find out a Resolut.....»»

Category: topSource: business-standardApr 21st, 2018

Insolvency: Creditors" role in Binani Cement bidding under scanner

NCLT Kokata Bench seeks to know if CoC could have modified its process document to consider UltraTech Cement's resolution plan.....»»

Category: topSource: business-standardApr 20th, 2018

Insolvency: Essar Steel lenders face tough call; CoC may seek fresh bids

ArcelorMittal was found to be ineligible on technical grounds because it had sold shares in Uttam Galva Steels but had not been declassified as a promoter from stock exchange records.....»»

Category: topSource: business-standardApr 19th, 2018

Race for Essar Steel: NCLT directs lenders to review Arcelor, Numetal bids

The NCLT order rendered invalid the second round of bidding held on April 2.....»»

Category: topSource: business-standardApr 19th, 2018

Essar Steel case: Invitation of second round of bids invalid, says NCLT

Both bids have to be shared, evaluated by Committee of Creditors before taking any decision.....»»

Category: topSource: business-standardApr 19th, 2018

Amtek Auto sells its SMI JV stake to Nippon Steel, Sumitomo Metal Corp

Amtek Auto is one of the 12 large insolvency cases which are undergoing insolvency resolution process with NCLT.....»»

Category: topSource: business-standardApr 18th, 2018

Essar Steel resolution may take time; deadline could extend beyond 270 days

Litigation and challenges leading to delay, deadline could extend beyond 270 days.....»»

Category: topSource: business-standardApr 17th, 2018

NCLT approves Vedanta"s resolution plan for insolvent Electrosteel

"The approved (by Committee of Creditors) resolution plan shall come into force with immediate effect," the order said.....»»

Category: topSource: business-standardApr 17th, 2018

NCLT lets insolvency proceedings against debt-ridden Essar Power Jharkhand

The principal bench of NCLT has appointed an interim resolution professional (IRP) to manage the affairs of the company, according to an order.....»»

Category: topSource: business-standardApr 16th, 2018

NCLT allows insolvency proceedings against Essar Power Jharkhand

The principal bench of NCLT has appointed an interim resolution professional (IRP) to manage the affairs of the company, according to an order.....»»

Category: topSource: business-standardApr 16th, 2018

Essar Steel bid: Arcelor alleges differential treatment in eligibility test

The legal sources said while JSW's case was similar to ArcelorMittal's, the latter did not get the same treatment.....»»

Category: topSource: business-standardApr 13th, 2018

Ineligible ArcelorMittal pointing fingers at others" eligibility: JSW CFO

JSW Steel has been declared as an eligible resolution applicant, says Seshagiri Rao, joint managing director and group chief financial officer.....»»

Category: topSource: business-standardApr 12th, 2018

Monnet Ispat"s creditors approve resolution plan by AION and JSW Steel

The resolution application will be filed within the 270-day period which is April 13.....»»

Category: topSource: business-standardApr 10th, 2018

Insolvency row: L&T terms Bhushan Steel"s resolution plan "discriminatory"

Larsen & Toubro Ltd (L&T), which is an operational creditor to Bhushan Steel Ltd, today termed the resolution plan of debt-ridden firm as "discriminatory" and "arbitrary" saying its Rs 900 crore outstanding has not b.....»»

Category: topSource: business-standardApr 9th, 2018

ArcelorMittal, Numetal rightly disqualified: Essar Steel RP"s counsel

The two bidders have defended their eligibility and also filed applications challenging each other's bids.....»»

Category: topSource: business-standardApr 5th, 2018

Numetal moves NCLAT against ArcelorMittal"s eligibility for Essar Steel

ArcelorMittal also filed a separate appeal against being disqualified for bidding for Essar Steel.....»»

Category: topSource: business-standardApr 27th, 2018

Essar Steel lenders to give time to bidders to cure ineligibility

ArcelorMittal may have to clear outstanding dues totalling Rs 70 billion, if it wishes lay its claim as an eligible bidder.....»»

Category: topSource: business-standardApr 27th, 2018

Lenders likely to reject ArcelorMittal"s conditional offer for Essar Steel

ArcelorMittal is ready to pay Uttam Galva's debt. The company held a 29% stake in the steel company.....»»

Category: topSource: business-standardMay 1st, 2018