Uttam Galva

AM Mining India completes acquisition of debt-ridden Uttam Galva Steels

AM Mining India Pvt Ltd, part of ArcelorMittal and Nippon Steel joint venture, completed the acquisition of Uttam Galva Steels Ltd, a downstream steel manufacturer in Maharashtra

NCLT approves resolution plan by Arcelor affiliate for Uttam Galva

Resolution amount was Rs 4,020 cr as per the plan

GAIL India moves NCLT to recover Rs 9,942 crore Uttam Galva dues

Dispute arises as resolution professional accepted only Rs 167 crore of claims

Explained: How Uttam Galva Steels lost its sheen amid mounting debts

The promoter group's deal-making capabilities have come back to haunt it

Uttam Galva defaults on Rs 664-cr loan; ArcelorMittal, SBI among creditors

UGSL, which shut its plants and operations after the lockdown was announced last month, said it has an outstanding of Rs 1,008 crore to its creditors

ArcelorMittal's funding fails to lift Uttam Galva Steels fortunes

Mittal's payment to banks came after the Supreme Court asked the company to pay overdues

Uttam Group firms' creditors move court over low offer made by Cargill arm

Operational creditors to get Rs 3 crore, against Rs 1,017 crore dues

ArcelorMittal says may pay off dues of Uttam Galva as a 'goodwill gesture'

The world's largest steel maker ArcelorMittal today asserted that its bid for debt-laden Essar Steel is "eligible" and indicated that any pay off towards outstanding dues of Uttam Galva, a firm in which it was a minority shareholder till sometime back, would be a "goodwill gesture". The Committee of Creditors (CoC) had yesterday met representatives of ArcelorMittal and Numetal which are in the race to acquire the stressed asset regarding their eligibility. "Our fundamental position is that we are eligible and in reality were never the promoters of these companies. So any discussion about repayment of any dues would be a gesture of goodwill," Brian Aranha, executive vice-president (strategy, technology, R&D) at ArcelorMittal, said here at the company's R&D facility. The lenders earlier had objected to ArcelorMittal's investment in Uttam Galva on default of loan repayments to the tune of about Rs 8,000 crore. ArcelorMittal had written off investment of USD 150 million in 2015. ..

Uttam Galva's small investors move SAT against ArcelorMittal derecognition

Tribunal refuses any immediate stay; Both BSE and NSE had approved derocognition of L N Mittal-led firm as Uttam Galva promoter last week

Insolvency: To avoid auction, Uttam Galva offers 51% of outstanding loan

SBI is the largest of the 18 banks that have to recover Rs 56.5 billion from the company

ArcelorMittal to sell entire 29% stake in Uttam Galva for Rs 1 per share

ArcelorMittal will now become eligible to take part in stressed asset auctions in the country

India Ratings downgrades Uttam Galva to default grade

The delays are a result of liquidity stress in a challenging operating environment and inability to refinance long-term borrowings according to an earlier proposed refinancing scheme