• Tag results for Essar Steel

NCLAT extends deadline till February 19 for NCLT to decide on Essar Steel insolvency

The Ahmedabad bench heard a plea from operational creditors and is scheduled to hear suspended Essar directors later in the day.

published on : 12th February 2019

Operational creditors’ plea dismissed

This should end the twist the resolution process took after ArcelorMittal was declared the winning bidder for Essar Steel under the Insolvency and Bankruptcy Code (IBC).

published on : 12th February 2019

Ruia moves NCLT to quash ArcelorMittal bid for Essar Steel

The NCLT bench comprising Manorama Kumari and Harihar Prakash Chaturvedi said it will decide Tuesday whether the petition will be admitted or not.

published on : 5th February 2019

NCLT rejects Essar Steel promoters’ offer

Essar Steel, with a 10-million tonne per annum capacity, is one of the newest steel mills in the country. 

published on : 30th January 2019

The curious case of Essar Steel IBC proceedings

A resolution plan for bankrupt Essar Steel was to be found within 270 days, in line with the statutory requirement of Insolvency and Bankruptcy Code. 

published on : 24th January 2019

Essar Steel insolvency case: NCLAT asks NCLT Ahmedabad to take decision by January 31

The appellate tribunal has directed to list the matter on February 4 for next hearing.

published on : 23rd January 2019

India swaps bankruptcy teeth for dentures

India’s two-year-old bankruptcy regime has brought to the brink of irrelevance by the strain of resolving its most high-profile case: Essar Steel India Ltd. 

published on : 21st January 2019

SBI plans to sell Essar Steel's NPAs worth over Rs 15,000 crores to recover dues

SBI has asked the interested parties that they can conduct due diligence of the asset with immediate effect, after submitting EoI and executing a Non-Disclosure Agreement.

published on : 16th January 2019

Protest hits production in Essar Steel plant

Production in Essar Steel plant was affected on Friday as hundreds of workers staged dharna protesting illegal termination of workers and non-fulfilment of various demands.

published on : 10th November 2018

ArcelorMittal wins bids to buyout Essar Steel

The Committee of Creditors have issued ArcelorMittal and its partner Japan's Nippon Steel & Sumitomo Metal Corp a Letter of Intent (LoI) declaring them as the "successful applicant".

published on : 26th October 2018

Essar Steel promoters offer Rs 54,389 crore to clear all dues of banks

The offer is better than Rs 42,202 crore offered by the world's largest steel producer ArcelorMittal to take over Essar Steel, which lenders are auctioning to recover their unpaid dues of over Rs 49,0

published on : 26th October 2018

Essar offers Rs 54,389 crore to all creditors, seeks removal from IBC

The dramatic move from Essar Steel comes even as the CoC of the debt-laden firm had declared ArcelorMittal as the highest bidder in the auction for the steel company.

published on : 25th October 2018

Essar Steel lenders drive a hard bargain

Last week, the Luxembourg-based company had emerged as the highest or H1 bidder for the debt-laden Essar Steel.

published on : 24th October 2018

Essar Steel lenders pick ArcelorMittal’s offer

THE Committee of Creditors (CoC) of Essar Steel have picked ArcelorMittal as the winning bid for the insolvent company, said reports on Friday.

published on : 20th October 2018

SC grants one more opportunity to ArcelorMittal, NuMetal to bid for Essar Steel

The apex court held that both the firms were ineligible under amended Insolvency and Bankruptcy Code to bid for the firm but granted them a fresh opportunity.

published on : 4th October 2018
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