Page 7 - Essar Steel

India's Essar Steel creditors' panel chooses ArcelorMittal's joint bid

The news comes just a day after Essar Steel said its board and shareholders offered to pay Rs 543.89 billion to creditors

Insolvency process: Debt-laden Essar Steel's case may drag, say lawyers

This is not the first time the promoters of Essar Steel are trying to get the company back

Section 12A of IBC doesn't apply to Essar Steel case, says ArcelorMittal

Sources close to Essar said Section 12A was introduced in June 2018

ArcelorMittal emerges as the highest bidder in the race for Essar Steel

Essar Steel lenders are likely to put the AecelorMittal proposal for voting early next week, according to ET report

Vedanta best-suited to take over indebted Essar Steel, says Anil Agarwal

NuMetal has said it will match the ArcelorMittal's offer

Russia's VTB Group may bid for the debt-ridden Essar Steel alone

Earlier the Russian bank was making a plan to take over the company via Numetal Mauritius - which had a Ruia family interest

Clear NPA dues to bid for Essar Steel: SC tells ArcelorMittal, NuMetal

The top court held that if nothing materialises within eight weeks then Essar Steel shall go into liquidation

Numetal to match ArcelorMittal's $5.8-billion bid for Essar Steel

Acquiring Essar Steel's assets will give the buyer a sizable presence in a sector that is expected to benefit from India's plan to invest trillions of rupees on roads, ports and airports

Race for Essar Steel: ArcelorMittal withdraws letter against Vedanta

The letter drew RP's attention to Anil Agarwal firm for alleged environment law violations in India and Zambia, along with other breaches

Essar steel bid: Numetal raises defaults by firms of Lakshmi Mittal's kin

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

NuMetal a shell firm, ineligible for Essar Steel bid: ArcelorMittal to SC

ArcelorMittal India (AMI), the steel tycoon L N Mittal-promoted group which has made a bid of Rs 420 billion for Essar Steel, raised various objections before the bench

Essar Steel insolvency case: Second round bids to be opened today

Three bidders in the second round are Numetal (minus Aurora), Arcelor, Vedanta

SBI withdraws plan to sell debt-laden Essar Steel loans post NCLAT order

The NCLAT ruled that second round bids put in by Russia's VTB Bank-based NuMetal and Vedanta for acquisition of Essar Steel are valid on Friday

Essar Steel lender may sell loan to ARC in a bid to save debt-hit company

Two bidders for the steel company, Numetal and ArcelorMittal India, are engaged in a prolonged court battle for the asset

Essar Steel lenders may not allow Numetal to change structure in second bid

The committee of creditors (CoC) may not allow Aurora Enterprises to be dropped from Numetal because this is not a fresh request for proposal (RFP)," a major lender said

Essar Steel to clock its best-ever performance as bidding picks up pace

The National Company Law Appellate Tribunal (NCLAT) is currently to decide which round of bidding to go with

Battle for Essar Steel: Journey of Rewant Ruia from 100% to 0% in Numetal

Numetal was rejected in the first-round bidding as it was not compliant with section 29A of the Insolvency and Bankruptcy Code

Insolvency: NCLAT puts on hold resolution process for Essar Steel

The next date of hearing in the NCLAT has been set for July 23, after which it will be heard on a daily basis

NCLAT orders status quo on Essar Steel insolvency for two months

The corporate insolvency resolution process deadline for Essar Steel is May 28

Essar lenders' meet remains inconclusive, CoC to meet on Saturday

In February, just before the first round of bidding for the steel company was opened, ArcelorMittal sold its stake in both Uttam Galva Steels and KSS to be eligible