Essar Steel

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Essar Steel - Total results - 121
ArcelorMittal, Nippon Steel sign $5.15 billion 10-year-term loan pact to refinance Essar Steel acquisition
Business

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
Business

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.

ArcelorMittal forays into Indian steel market; completes Rs 42,000-cr Essar acquisition
Business

ArcelorMittal forays into Indian steel market; completes Rs 42,000-cr Essar acquisition

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
Business

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

Essar Steel resolution to boost October-December quarter number: SBI chief Rajnish Kumar
Business

Essar Steel resolution to boost October-December quarter number: SBI chief Rajnish Kumar

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
Business

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
Business

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
Business

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.

Essar Steel insolvency: Look forward to close acquisition soon, says ArcelorMittal after SC verdict
Business

Essar Steel insolvency: Look forward to close acquisition soon, says ArcelorMittal after SC verdict

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
Business

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

Reviving realty sector, policy changes for exports; all this and more in Moneycontrol Pro
Business

Reviving realty sector, policy changes for exports; all this and more in Moneycontrol Pro

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
Business

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

Essar Steel insolvency: Supreme Court orders status quo in case; to be heard on 7 August
Business

Essar Steel insolvency: Supreme Court orders status quo in case; to be heard on 7 August

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
Business

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

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

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

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
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.

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.