Essar Steel Insolvency Case

Essar Steel Insolvency Case News

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 insolvency case: NCLAT extends deadline for NCLT Ahmedabad to decide Rs 42,000 cr resolution plan submitted by ArcelorMittal by 19 February
Business

Essar Steel insolvency case: NCLAT extends deadline for NCLT Ahmedabad to decide Rs 42,000 cr resolution plan submitted by ArcelorMittal by 19 February

The National Company Law Appellate Tribunal (NCLAT) on Tuesday granted a week more time to NCLT Ahmedabad to decide over the Rs 42,000 crore resolution plan submitted by ArcelorMittal for the debt-ridden Essar Steel

Essar Steel insolvency case: ArcelorMittal to pay Rs 7,469 cr to clear Uttam Galva, KS Petron dues
Business

Essar Steel insolvency case: ArcelorMittal to pay Rs 7,469 cr to clear Uttam Galva, KS Petron dues

After losing their case in NCLT and NCLAT, ArcelorMittal had moved the Supreme Court, which on 4 October had allowed them to bid for Essar Steel provided they cleared their dues to their lenders.

Essar Steel Insolvency case: NCLAT asks Rewant to file affidavit over his association with Ravi Ruia
Business

Essar Steel Insolvency case: NCLAT asks Rewant to file affidavit over his association with Ravi Ruia

The National Company Law Appellate Tribunal also declined to allow the requests of Committee of Creditors (COC) of Essar Steel to open the second round of bids.