• Tag results for Essar Steel

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

Competition Commission approves ArcelorMittal's acquisition of Essar Steel

ArcelorMittal and Numetal are in the race to acquire Essar Steel, currently undergoing insolvency proceedings as it owes more than Rs 45,000 crore to over 30 banks.

published on : 20th September 2018

Essar Steel acquisition: ArcelorMittal writes letter targeting Vedanta, withdraws later

ArcelorMittal, which is competing against Russia's VTB Group-backed Numetal Ltd and Vedanta for the takeover of Essar Steel, on September 15 wrote a hard-hitting letter.

published on : 18th September 2018

SC to hear tomorrow plea of ArcelorMittal against NCLAT order on Essar Steel auction

The apex court refused urgent hearing for ArcelorMittal's plea for payment of Rs 7,000 crore by today for its second bid to become eligible.

published on : 11th September 2018

ArcelorMittal sweetens offer for Essar Steel; submits revised proposal to creditors' committee

The revised offer also includes a commitment to pay Rs 7,000 crore dues to the financial creditors of Uttam Galva and KSS Petron to be eligible in the race to acquire Essar Steel.

published on : 11th September 2018

Numetal gets NCLAT nod to bid for Essar Steel

Friday’s NCLAT order has prompted bankers like SBI to halt their proposed Essar debt sale process to asset reconstruction companies, in the hope of reaping better returns for investment.

published on : 8th September 2018

Second round bids by NuMetal, Vedanta for Essar Steel valid, says NCLAT

The NCLAT held that NuMetal was not related to promoters of Essar Steel and so was eligible for submitted a resolution plan for the company.

published on : 7th September 2018

Ban orders at Odisha's Essar Steel factory

Jagatsinghpur district administration on Tuesday clamped prohibitory orders under Section 144 of CrPC at Essar factory’s main gate to prevent any untoward incident.

published on : 27th June 2018

NCLAT agrees to hear NuMetal, ArcelorMittal petitions in Essar Steel case

ArcelorMittal wanted NuMetal bid be rejected because its backers include a company controlled by the son of a billionaire Essar Steel founder.

published on : 27th April 2018
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