Essar Steel Insolvency

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