Page 2 - Essar Steel

NMDC approves demerging steel plant as Baghel protests 'privatisation'

Demerger of Nagarnar plant could create generate funds for the centre but the state's government is likely to read it as a step toward privatisation.

Places of worship, hotels, restaurants and malls to reopen from today

75-day wait ends today but getting customers and labour back is a challenge

Suspension of IBC can affect resolution efforts and shift focus to recovery

On Wednesday, the Union Cabinet gave approval to the suspension of the IBC for Covid-19-related stress

London court rejects ArcelorMittal's appeal against Essar Steel

The high court order of March 30 came as ArcelorMittal looked to enforce a $1.5-billion arbitral award stemming from a soured supply agreement.

The future is back in the pits for steelmakers as demand falls rapidly

Iron ore extraction in a falling demand scenario due to cutbacks in steel production is weighing on its prices

UK court dismisses ArcelorMittal's arbitral award plea against Essar Steel

In the order the London High Court said there was no grounds to order a global freeze on the Ruia and Essar assets

PSBs stare at tough quarter over coronavirus and higher provisioning

Slimmer chances of recovering Rs 20,000 cr from Bhushan Steel resolution in the near future add to lender's woes

ArcelorMittal, Nippon sign $5.15 bn loan pact to refinance Essar Steel buy

The 10-year-term loan would be used to refinance their acquisition of Essar Steel India, now known as ArcelorMittal Nippon Steel India Ltd.

Ruias plan comeback, say Essar to re-start investment in India and abroad

Group repaid Rs 1.4 trn debt to banking system over past three years; promoters say it currently generates earnings of Rs one trn a year, mainly from UK refinery

Essar to embark on new phase of investment-led growth: Ruia family

Despite losing Essar Steel in insolvency proceedings, cash flows remain strong, with Rs 1,00,000 crore of revenues from existing businesses

ArcelorMittal- Nippon Steel in talks to buy 500 Mw Bhander power unit

Power plant crucial to make its 9.6 MT plant self-sufficient

Essar Steel seeks 36 LNG cargoes for delivery between 2021-2023 : Report

The tender closes on Feb. 5 and remains valid until February 7, one industry source said

SBI beats estimates, profit before tax surges 65.7% in Dec quarter

Good recovery from the Essar Steel stressed loan account provided an impetus to the Q3 performance. However, gains were restricted due to the DHFL account turning bad

ArcelorMittal-Nippon plans to take control of captive jetty at Hazira

ArcelorMittal-Nippon Steel say that this was a captive licence for the steel plant and the captive jetty should remain with the plant

Bankruptcies, jail and even death: The year was bad for some Indian tycoons

Some of the country's biggest and most-storied businessmen saw their fortunes fade in 2019.

Year in Review: Top 10 corporate events and crises India Inc faced in 2019

From DHFL, PMC and Karvy crises to the suicide of CCD promoter V G Siddhartha and arrest of the Singh brothers, these corporate events and scandals made strong headlines in 2019

Gruelling battle for 865 days: The making of Rs 42,000-cr Essar Steel deal

Getting to this point wasn't easy. The road was riddled with challenges as much for ArcelorMittal as it was for stakeholders

A hard task master: NCLAT chairman ruffles many feathers, yet again

Mukhopadhyaya's latest ruling restoring Cyrus Mistry as Tata Sons chairman came as a rude shock to the salt-to-software behemoth.

Ramping up capacity critical for ensuring good valuation: Essar's RP Satish

Essar Steel resolution professional Satish Gupta, who managed the insolvency process for more than two years, tells Ishita Ayan Dutt about the challenges and mandat

ArcelorMittal and Nippon Steel complete acquisition of Essar Steel

ArcelorMittal announced that Aditya Mittal, president and CFO of ArcelorMittal, had been appointed chairman of AM/NS India and Dilip Oommen, the CEO