Essar Steel News
ArcelorMittal, Nippon Steel sign $5.15 billion 10-year-term loan pact to refinance Essar Steel acquisition
The 10-year-term loan would be used to refinance their acquisition of Essar Steel India, now known as ArcelorMittal Nippon Steel India Ltd.
Essar Steel resolution to boost Q3 earnings with Rs 12,000-cr recovery; step to have positive impact on economy: SBI chief
With the order, the apex court paved the way for ArcelorMittal's takeover of Essar Steel for Rs 42,000 crore.
Global steel giant ArcelorMittal on Monday said it has completed the acquisition of Essar Steel, marking its entry into the Indian steel sector
Essar Steel insolvency case: Crisis-hit company's promoters will have to pay about Rs 8,000 cr as banks set to recover claims
The Essar case, which was among the first 12 cases to be referred by the Reserve Bank of India (RBI) for resolution, faced several hurdles as its promoter Prashant Ruia also tried to bid for the company and moved the appellate tribunal for rejection of the ArcelorMittal's Rs 42,000 crore bid
State Bank of India Chairman Rajnish Kumar on Monday said the resolution of Essar Steel will boost profitability in the third quarter of the current financial year
Q2 results paint a bleak picture for market, Adani Ports and SEZ in stable waters; all this and more on Moneycontrol Pro
Adani Ports volumes rose sharply despite depressed market conditions in global trade, which has affected India’s trade too.
Essar Steel insolvency: ArcelorMittal aims to complete acquisition of debt-ridden company by 2019-end
Following the Supreme Court verdict on Essar Steel resolution plan, global steel giant ArcelorMittal said it expects to complete the acquisition of the debt-ridden company by the end of this year
ArcelorMittal's shares up 2.5%, demand recovery to remain sluggish in near term; all this and more on Moneycontrol Pro
ArcelorMittal’s shares rose by 2.5% on Friday, the day the Supreme Court cleared its acquisition of Essar Steel.
Global steel giant ArcelorMittal on Friday said it is looking forward to close the acquisition of debt-ridden Essar Steel soon
Essar Steel insolvency: SC paves way for ArcelorMittal to take over debt-laden company for Rs 42,000 cr
The Supreme Court on Friday set aside the 4 July order of the NCLAT approving ArcelorMittal's Rs 42,000-crore bid for acquiring debt-laden Essar Steel
India’s exports have been stagnating for over half a decade now and exports in the current year (April-July) are running at a hugely modest 3.1% above the same period last year.
Setback for ArcelorMittal: Cayman Island court refuses worldwide freeze on Essar Global Fund to recover $1.5 bn arbitration award
In a setback to ArcelorMittal, the Grand Court of Cayman Island has declined its plea for a 'Garnishee Order' and a 'Freezing Injunction' against Essar Global Fund Ltd, the parent firm of Essar Group of companies, for recovering a $1.5 billion arbitration award
The Supreme Court Monday ordered status quo as of today in the Essar insolvency case
Lenders to move Supreme Court against NCLAT order on higher payout to Essar Steel's operational creditors: SBI chief
Giving secured creditors same treatment as operational creditors is a huge disincentive for secured creditors, said Rajnish Kumar
Essar Steel was auctioned under the new Insolvency and Bankruptcy Code (IBC) to recover Rs 54,547 crore of unpaid dues of financial lenders and operational creditors.
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.
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
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.
Insolvency resolution proceedings of Essar Steel had commenced on 2 August 2017
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.