Essar Steel Insolvency
Essar Steel Insolvency News
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: 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
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
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
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
Essar Steel insolvency case: NCLAT asks NCLT Ahmedabad bench to expedite decision
A two-member bench, headed by NCLAT Chairman Justice S J Mukhopadhaya, asked the NCLT bench to take an early decision in the matter as per the order passed by the Supreme Court in this regard.
Essar Steel insolvency: GAIL, GETCO move NCLT seeking rejection of ArcelorMittal's takeover bid
Last month, a committee of Essar Steel lenders picked ArcelorMittal's Rs 42,000-crore proposal to take over the debt-laden company by paying Rs 41,987 crore out of total dues of Rs 49,395 crore of financial creditors. Operational creditors, under the plan, are to get just Rs 214 crore against the outstanding of Rs 4,976 crore.
ArcelorMittal wins bids to take over Essar Steel for Rs 42,000 cr; Ruias wanted CoC to consider their offer
The announcement comes a day after founders of Essar Steel made a surprise offer to pay Rs 54,389 crore to creditors to settle claims and allow the company to exit the bankruptcy process.
Essar Steel insolvency: Company says promoters' offer should not be ignored for process lacunae as ArcelorMittal emerges winner
Essar Steel promoters had made the offer to pay Rs 54,389 crore to clear all outstanding, including of operational creditors on Thursday, the day when the Committee of Creditors (CoC) of the debt-laden company choose Rs 42,000 crore offer of ArcelorMittal.
ArcelorMittal wins bid to buyout Essar Steel amid Ruias' last-ditch effort to retain control over company
The world's largest steelmaker ArcelorMittal on Friday said it has been chosen by the lenders to takeover debt-laden Essar Steel India Ltd for about Rs 42,000 crore.
Essar Steel insolvency: Shareholders of debt-ridden firm offer to pay Rs 54,389 cr to clear all dues of lenders
The plan includes an upfront cash payment of Rs 47,507 crore to all creditors
GPI Textiles' resolution professional writes to Essar Steel lenders, wants ArcelorMittal to pay its dues
ArcelorMittal has reportedly agreed to pay a total of Rs 50,000 crore to acquire Essar Steel
Competition Commission of India approves ArcelorMittal's acquisition of debt-ridden Essar Steel
Earlier this month, ArcelorMittal had offered Rs 42,000 crore to acquire Essar Steel, upstaging a Rs 37,000 crore bid by Russia's VTB Group-backed Numetal.
Essar Steel insolvency: Will be surprised if ArcelorMittal termed ineligible for bid, says Lakshmi Mittal
Steel tycoon LN Mittal said he would be surprised if ArcelorMittal, world's largest steelmaker, will not be eligible to participate in bid for Essar Steel
Insolvency proceeding: Gujarat High Court dismisses Essar Steel plea against RBI directive
The ruling paves the way for the start of bankruptcy proceedings against Essar Steel, although the company could appeal the ruling