Arcelormittal

Showing of 21 - 40 from 155 results
Arcelormittal - Total results - 155
NCLAT rejects Prashant Ruia's plea to block ArcelorMittal; approves bid for Essar Steel with modification
Business

NCLAT rejects Prashant Ruia's plea to block ArcelorMittal; approves bid for Essar Steel with modification

Essar Steel director Prashant Ruia had challenged that order saying ArcelorMittal was ineligible to bid under Section 29A of the Insolvency and Bankruptcy Code as it was associated with delinquent or loan defaulting firms.

Liberty Steel acquires ArcelorMittal assets in Europe for Rs 5,782 crore
Business

Liberty Steel acquires ArcelorMittal assets in Europe for Rs 5,782 crore

Liberty Steel on Monday said it has acquired seven steel making units and five service centres from L N Mittal's ArcelorMittal in Europe for 740 million euros (around Rs 5,782 crore), according to a company statement

NCLAT reserves order on petitions against ArcelorMittal's Rs 42,000-crore takeover bid of Essar Steel
Business

NCLAT reserves order on petitions against ArcelorMittal's Rs 42,000-crore takeover bid of Essar Steel

A two-member bench asked all parties, including ArcelorMittal, to file their written submissions over their submissions by Wednesday

Essar Steel insolvency case: ArcelorMittal tells NCLAT it will pay Rs 42,000 cr for acquisition of debt-laden firm
Business

Essar Steel insolvency case: ArcelorMittal tells NCLAT it will pay Rs 42,000 cr for acquisition of debt-laden firm

Senior advocate Harish Salve appearing for ArcelorMittal also accused Ruias, former Essar Steel promoters, of creating hurdles in the resolution process of the bankrupt steelmaker.

Essar Steel reports Rs 4,229 cr EBITDA during Corporate Insolvency Resolution period
Business

Essar Steel reports Rs 4,229 cr EBITDA during Corporate Insolvency Resolution period

Insolvency resolution proceedings of Essar Steel had commenced on 2 August 2017

ArcelorMittal resolution plan violates Insolvency & Bankruptcy Code, says Prashant Ruia to NCLAT
Business

ArcelorMittal resolution plan violates Insolvency & Bankruptcy Code, says Prashant Ruia to NCLAT

Until 31 December 2018, Mittal was a shareholder of Navoday Consultants, which in turn was a shareholder in certain companies run by his brothers Pramod and Vinod Mittal, which had defaulted on bank loans.

Daily Bulletin: EC's Article 324 comes to force at 10 pm today in West Bengal; Modi, Mamata to hold rallies on last day of campaigning; day's top stories
India

Daily Bulletin: EC's Article 324 comes to force at 10 pm today in West Bengal; Modi, Mamata to hold rallies on last day of campaigning; day's top stories

Today's top stories: Narendra Modi, Mamata Banerjee will both hold rallies on what is now the last day of campaigning in West Bengal after EC's Article 324 order; Rahul Gandhi will visit the Alwar rape survivor's family; and more.

Arcelor paying Rs 39,500 cr to acquire Essar Steel, not Rs 42,000 cr, alleges Standard Chartered counsel
Business

Arcelor paying Rs 39,500 cr to acquire Essar Steel, not Rs 42,000 cr, alleges Standard Chartered counsel

Orissa Slurry Pipeline Ltd, he said, is a separate entity owned by SREI Infrastructure and Essar Steel, and was not part of the original offer to sell Essar Steel.

Thyssenkrupp to seek new steel partners after abandoning European merger with Tata Steel: CEO
Business

Thyssenkrupp to seek new steel partners after abandoning European merger with Tata Steel: CEO

Thyssenkrupp abandoned its long-planned merger of its steel business with the European operations of Tata Steel, which would have created the region’s Number 2 producer after ArcelorMittal, due to opposition from European Union regulators.

ArcelorMittal Q1 net income shrinks 66% to $0.4 bn; says profitability hit by lower pricing, global overcapacity
Business

ArcelorMittal Q1 net income shrinks 66% to $0.4 bn; says profitability hit by lower pricing, global overcapacity

The world's largest steel-maker had posted a net income of $1.2 billion in the year-ago quarter, ArcelorMittal said in a statement.

Essar Steel insolvency case: Majority shareholders seek rejection of ArcelorMittal's Rs 42,000 crore bid
Business

Essar Steel insolvency case: Majority shareholders seek rejection of ArcelorMittal's Rs 42,000 crore bid

An Essar Steel's majority shareholder Tuesday moved NCLAT seeking rejection of ArcelorMittal's Rs 42,000 crore bid of the bankrupt company, alleging that its promoter Lakshmi Mittal hid his association with loan defaulting firms run by his brothers, that made his firm ineligible to participate in insolvency proceedings

Essar Steel posts EBITDA of Rs 2,000 crore, may utilise funds towards financial creditors' claims
Business

Essar Steel posts EBITDA of Rs 2,000 crore, may utilise funds towards financial creditors' claims

In an affidavit before NCLAT, Arfin India -- an operational creditor of Essar Steel -- has submitted that details pertaining to the debt-laden firm's EBITDA

Supreme Court halts ArcelorMittal payment to lenders to buy Essar Steel; Mittal's foray into Indian market delayed
Business

Supreme Court halts ArcelorMittal payment to lenders to buy Essar Steel; Mittal's foray into Indian market delayed

India’s bankruptcy court had approved ArcelorMittal’s $6 billion-bid for debt-ridden Essar on 8 March, potentially ending months of court battles and opening the sector to outsiders.

NCLAT likely to direct ArcelorMittal to deposit Rs 42,000-cr bid amount for acquiring Essar Steel
Business

NCLAT likely to direct ArcelorMittal to deposit Rs 42,000-cr bid amount for acquiring Essar Steel

The bench also asked ArcelorMittal to file an affidavit before it, detailing the steps to be taken for implementation of the resolution plan of debt-ridden Essar Steel.

Essar Steel Committee of Creditors meets over distribution of Rs 42,000 crore; NCLAT to wait for the outcome
Business

Essar Steel Committee of Creditors meets over distribution of Rs 42,000 crore; NCLAT to wait for the outcome

The NCLAT had on 20 March asked the resolution professional of Essar Steel to call for a fresh meeting of its CoC to reconsider distribution of Rs 42,000 crore fund

Lakshmi Mittal helps younger brother Pramod settle Rs 2,210 cr State Trading Corporation dues, avoid legal troubles
Business

Lakshmi Mittal helps younger brother Pramod settle Rs 2,210 cr State Trading Corporation dues, avoid legal troubles

Lakshmi Mittal has extended Rs 1,600 crore financial help to Pramod Mittal, which rescued him from various criminal and other proceedings, sources said

NCLAT directs Essar Steel to call CoC meeting to reconsider distribution of funds
Business

NCLAT directs Essar Steel to call CoC meeting to reconsider distribution of funds

The NCLAT on Wednesday asked the resolution professional of Essar Steel to call a fresh meeting of CoC to discuss the distribution of Rs 42,000 crore coming from ArcelorMittal's resolution plan

NCLAT gives conditional nod to ArcelorMittal's Rs 42,000 crore resolution plan for debt-ridden Essar Steel
Business

NCLAT gives conditional nod to ArcelorMittal's Rs 42,000 crore resolution plan for debt-ridden Essar Steel

NCLAT said there is no stay on the Resolution Professional of Essar Steel to disburse the funds among financial and operational creditors of the company

Essar Steel takeover: NCLAT refuses stay on NCLT nod to ArcelorMittal plan; seeks fresh distribution plan for bid amount
Business

Essar Steel takeover: NCLAT refuses stay on NCLT nod to ArcelorMittal plan; seeks fresh distribution plan for bid amount

Making a suggestion, the NCLAT said all operational creditors below Rs 1 crore should get 100 per cent of the dues and so should the employees of Essar Steel.