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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

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

NCLT asks Binani Cement"s CoC to consider UltratTech"s revised bid

The NCLT bench also directed the CoC to consider Dalmia Bharat Group's RPPL resolution plan if it matches UltraTech's offer.....»»

Category: topSource: business-standardMay 2nd, 2018

Essar lenders" meet remains inconclusive, CoC to meet on Saturday

In February, just before the first round of bidding for the steel company was opened, ArcelorMittal sold its stake in both Uttam Galva Steels and KSS to be eligible.....»»

Category: topSource: business-standardMay 2nd, 2018

ArcelorMittal says may pay off dues of Uttam Galva as a "goodwill gesture"

The world's largest steel maker ArcelorMittal today asserted that its bid for debt-laden Essar Steel is "eligible" and indicated that any pay off towards outstanding dues of Uttam Galva, a firm in which it was a minority shareho.....»»

Category: topSource: business-standardMay 3rd, 2018

News digest: Flipkart-Walmart deal, Essar Steel, smart TV market, and more

The group may even explore relocating the entire Walmart India operation to Bengaluru in the near future.....»»

Category: topSource: business-standardMay 6th, 2018

Will be surprised if ArcelorMittal is out of Essar Steel race: LN Mittal

The Committee of Creditors on May 2 had met representatives of ArcelorMittal and Numetal regarding their eligibility for Essar Steel and a decision is awaited.....»»

Category: topSource: business-standardMay 7th, 2018

Numetal might challenge demand for payment of dues by Essar Steel lenders

Numetal said it had argued before the CoC that it was a fully eligible resolution applicant under the IBC.....»»

Category: topSource: business-standardMay 10th, 2018

Insolvency row: Vedanta gets CCI nod to buy debt-laden Electrosteel Steels

The NCLT had last month approved the resolution plan submitted by Vedanta Ltd for Electrosteel Steels, making it the first among 12 large stressed accounts identified by RBI.....»»

Category: topSource: business-standardMay 14th, 2018

ArcelorMittal pays Rs 70 billion to become eligible bidder for Essar Steel

The payment relates to dues on account of Uttam Galva Steels and KSS Petron, both classified as non-performing assets (NPAs) for more than a year.....»»

Category: topSource: business-standardMay 15th, 2018

With strong demand, India"s biggest steelmakers plan record output

JSW sees Indian steel consumption rising by as much as 7.5 percent in the 2019 financial year.....»»

Category: topSource: business-standardMay 17th, 2018

Tata Steel completes acquisition of controlling stake in Bhushan Steel

Tata Steel said Rs 12,000 million will be paid to operational creditors of BSL over a period of 12 months as per their admitted claims and as per the terms of the approved resolution plan.....»»

Category: topSource: business-standardMay 18th, 2018

Battle for Essar Steel: ArcelorMittal sets terms for Rs 70 bn repayment

Global steel giant has deposited the amount in an escrow account of SBI to become eligible to bid for bankrupt Essar Steel.....»»

Category: topSource: business-standardMay 18th, 2018

IBC: 12 NPA cases put a question mark on sanctity of 270-day deadline

For 11 out of the 12 cases, the stipulated deadline within which the approved resolution plan has to be filed with the NCLT is over.....»»

Category: topSource: business-standardMay 20th, 2018

Bhushan Steel resolution effect: PSBs gain, Nifty PSU Bank index up 2%

SBI, Bank of India, PNB, Oriental Bank of Commerce, Canara Bank, Indian Bank and Bank of India were up 1% to 4% on the NSE......»»

Category: topSource: business-standardMay 21st, 2018

Odisha on radar for the Rs 150-bn SAIL-ArcelorMittal auto grade steel JV

The proposed JV plant will construct world-class facilities for manufacturing automotive steel that will offer technologically advanced steel products for India's rapidly growing automotive sector.....»»

Category: topSource: business-standardMay 23rd, 2018

Essar Steel insolvency: Lenders move NCLAT for early hearing of case

State Bank of India (SBI) filed the petition in the NCLAT on behalf of the Committee of Creditors (CoC) of Essar Steel seeking the "earliest possible date for hearing on a day to day basis".....»»

Category: topSource: business-standardMay 25th, 2018

ArcelorMittal ups bid for Essar Steel, Reuters reports

See the rest of the story here. Theflyonthewall.com provides the latest financial news as it breaks. Known as a leader in market intelligence, The Fl.....»»

Category: blogSource: theflyonthewallSep 10th, 2018

ArcelorMittal raising bid for Essar Steel to $5.8B, Bloomberg says

See the rest of the story here. Theflyonthewall.com provides the latest financial news as it breaks. Known as a leader in market intelligence, The Fl.....»»

Category: blogSource: theflyonthewallSep 10th, 2018

ArcelorMittal submits revised proposal for acquisition of Essar Steel

See the rest of the story here. Theflyonthewall.com provides the latest financial news as it breaks. Known as a leader in market intelligence, The Fl.....»»

Category: blogSource: theflyonthewallSep 11th, 2018