Page 7 - Essar Steel

Clear NPA dues to bid for Essar Steel: SC tells ArcelorMittal, NuMetal

The top court held that if nothing materialises within eight weeks then Essar Steel shall go into liquidation

Numetal to match ArcelorMittal's $5.8-billion bid for Essar Steel

Acquiring Essar Steel's assets will give the buyer a sizable presence in a sector that is expected to benefit from India's plan to invest trillions of rupees on roads, ports and airports

Race for Essar Steel: ArcelorMittal withdraws letter against Vedanta

The letter drew RP's attention to Anil Agarwal firm for alleged environment law violations in India and Zambia, along with other breaches

Essar steel bid: Numetal raises defaults by firms of Lakshmi Mittal's kin

Numetal and ArcelorMittal are locked in fierce takeover battle of Essar Steel and two are in the Supreme Court over bidding qualification

NuMetal a shell firm, ineligible for Essar Steel bid: ArcelorMittal to SC

ArcelorMittal India (AMI), the steel tycoon L N Mittal-promoted group which has made a bid of Rs 420 billion for Essar Steel, raised various objections before the bench

Essar Steel insolvency case: Second round bids to be opened today

Three bidders in the second round are Numetal (minus Aurora), Arcelor, Vedanta

SBI withdraws plan to sell debt-laden Essar Steel loans post NCLAT order

The NCLAT ruled that second round bids put in by Russia's VTB Bank-based NuMetal and Vedanta for acquisition of Essar Steel are valid on Friday

Essar Steel lender may sell loan to ARC in a bid to save debt-hit company

Two bidders for the steel company, Numetal and ArcelorMittal India, are engaged in a prolonged court battle for the asset

Essar Steel lenders may not allow Numetal to change structure in second bid

The committee of creditors (CoC) may not allow Aurora Enterprises to be dropped from Numetal because this is not a fresh request for proposal (RFP)," a major lender said

Essar Steel to clock its best-ever performance as bidding picks up pace

The National Company Law Appellate Tribunal (NCLAT) is currently to decide which round of bidding to go with

Battle for Essar Steel: Journey of Rewant Ruia from 100% to 0% in Numetal

Numetal was rejected in the first-round bidding as it was not compliant with section 29A of the Insolvency and Bankruptcy Code

Insolvency: NCLAT puts on hold resolution process for Essar Steel

The next date of hearing in the NCLAT has been set for July 23, after which it will be heard on a daily basis

NCLAT orders status quo on Essar Steel insolvency for two months

The corporate insolvency resolution process deadline for Essar Steel is May 28

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

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

Essar Steel: Numetal moves NCLAT ahead of bankers' meet on Friday

According to media reports, ArcelorMittal had quoted higher than Numetal, which still is below the fair value as it quotes only 40% of Rs 450 bn due to them from Essar Steel

Arcelor bids higher than Numetal for Essar Steel; CoC to meet on Friday

Lenders to take haircut of 40% on ArcelorMittal's offer and 70% on Numetal's

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

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

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

Vedanta, ArcelorMittal, NuMetal-JSW bid to takeover debt-laden Essar Steel

Essar Steel was among the initial 12 companies identified by the Reserve Bank of India (RBI) for insolvency proceedings