• Tag results for Numetal

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

Eligibility of ArcelorMittal, NuMetal has to be decided by SC: Committee of Creditors

On the issue of NuMetal, the senior counsel said it was incorporated in Mauritius nearly a week before bidding for Essar Steel and referred to a communication of February 21.

published on : 25th September 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

SC asks Numetal to establish subterfuge charge against ArcelorMittal in divesting shares

The observation by a bench of Justices R F Nariman and Indu Malhotra came when NuMetal accused steel and mining major ArcelorMittal of cheating Indian banks of Rs 7,000 crore.

published on : 19th September 2018

Russia's Numetal raises loan defaults by firms of Lakshmi Mittal's brothers

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

published on : 18th 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

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

ArcelorMittal seeks disqualification of NuMetal

According to the petitioner, when first bids for loan defaulter Essar Steel were called in February, Rewant owned 25 per cent in Mauritius-based investment vehicle NuMetal.

published on : 6th July 2018