Page 3 - Essar Steel

Why the Essar judgment has scored a win above all for common sense

The verdict will rekindle hope in the integrity of India's bankruptcy process, but it will take a lot more work to allay concerns about its effectiveness

Essar Steel lenders may get more than Rs 42,000 cr from resolution process

Lenders and ArcelorMittal have mutually agreed to appoint Grant Thorton for an audit of Essar's Ebitda

ArcelorMittal set to close Rs 42,000-cr Essar Steel deal next week

Essar Steel will be jointly owned and operated by ArcelorMittal and Nippon Steel Corporation

ArcelorMittal initiates Rs 42,000 cr payment for Essar Steel acquisition

After the payment to the lenders, this will be the single-biggest recovery under the IBC

SBI sees strong value addition from subsidiaries, SBI Cards top contributor

The rising awareness of life insurance as a protection product is giving strong traction to the sector

Essar Steel verdict: Strengthening committee of creditors comes with riders

Arguably, while taking two steps forward in cementing the autonomy of the CoC, the SC may have taken one step back by allowing NCLT to exercise vague and undefined power, which is highly subjective

Recoveries from Odisha Slurry Pipeline under CIRP could be low: Srei fund

IGOF has written to the resolution professional and the committee of creditors, requesting that OSPIL be withdrawn from CIRP

Indian economy is firming up, banking system safe: SBI, HDFC Bank chiefs

Credit demand is firming up and coming from roads, solar power projects, and the oil and gas sector, particularly city gas projects in the case of SBI

Ruling in Essar case a watershed moment in insolvency law, says IBBI chief

The Insolvency and Bankruptcy Code, 2016 envisages closure of a corporate insolvency resolution process in a time-bound manner

Corporation Bank surges 68% in three days post Essar Steel ruling

The Supreme Court (SC) on Friday said the National Company Law Appellate Tribunal (NCLAT) should not interfere with the decisions of the committee of creditors (CoC) in the Essar Steel insolvency case

ArcelorMittal hopes to complete Essar acquisition by December end

After completion, ArcelorMittal will jointly own and operate ESIL in partnership with Nippon Steel Corporation (Nippon Steel)

In a weak market, homecoming costs Lakshmi Mittal Rs 49,670 crore

High value of stressed steel assets reflect the uncertainty of putting up a greenfield projects in India apart from the cost which is $1 billion for a million tonne capacity

Essar Steel, Adani, GAIL, HPCL buy bulk of gas from Reliance' newer fields

Essar Steel, Adani Group and state-owned GAIL have bought majority of natural gas from Reliance Industries' newer fields in the KG-D6 block at an indicative price of $5.04 - 5.16 per unit, industry so

Losing steel arm to ArcelorMittal to hurt Essar India; revenue may fall 97%

Revenue hit of 96% is combined impact of earlier divestment in Essar Oil & losing control of Essar Steel

SC sets aside NCLAT order, paves way for Arcelor to acquire Essar Steel

Apex court relaxes 330-day timeline for resolving stressed assets by diluting its mandatory nature

SC order on Essar Steel validates credibility of IBC: FM Sitharaman

SBI Chairman Rajnish Kumar too was impressed by the decision on Essar Steel India judgment by the Supreme Court

Bank stocks cheer SC verdict on ArcelorMittal's acquisition of Essar steel

While Corporation Bank gained the most, up 17 per cent in Friday's trade, State Bank of India (SBI), IDBI Bank, Punjab National Bank, and Canara Bank rose 2.5-5 per cent

SC order on Essar Steel to reduce long-drawn litigations: SBI Chairman

SC set aside NCLAT order which gave equal rights to the secured and unsecured creditors during insolvency proceedings of debt-ridden Essar Steel, clearing the decks for its takeover by ArcelorMittal

Top headlines: Consumer spend, Singh bros, Essar Steel case, and more

From NSO data on consumer spending to Walmart International's sales growth, here are the top news stories that made headlines today

Essar Steel case: SC clears way for ArcelorMittal to complete $5.8 bn deal

The acquisition of Essar Steel India Ltd will make Arcelor the fourth-biggest producer in a nation where the government is investing trillions of rupees in infrastructure