• Tag results for Numetal

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

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

NuMetal snaps up 70 per cent stake in OSPIL

Russia-based VTB Capital-backed NuMetal has acquired 70 per cent in debt-ridden Odisha Slurry Pipeline Infrastructure Ltd (OSPIL), which feeds raw material to Essar’s Paradip steel plant.

published on : 31st March 2018