Kss Petron

Essar Steel insolvency: Second round bids put in by Numetal, ArcelorMittal and Vedanta to be opened today

The Resolution Professional, overseeing the auction of Essar Steel to recover over Rs 49,000 crore of unpaid loans, sent emails to all the three bidders to be present on Monday

Essar Steel insolvency: NCLAT says second round of bids by NuMetal, Vedanta are valid

A two-member bench of the NCLAT headed by Chairman Justice S J Mukhopadhaya directed lenders of the Essar Steel to expeditiously take a decision.

NCLAT reserves order on Numetal and ArcelorMittal pleas over debt-ridden Essar Steel bids

Numetal's eligibility is linked to the shareholding of Arora Enterprises Ltd (AEL), (beneficially owned by Rewant Ruia) which has already exited from Numetal.

Essar Steel Insolvency case: Aurora Enterprises would have no control over firm, says Numetal to NCLAT

NCLAT had earlier asked for confirmation that Rewant Ruia as a shareholder of Numetal through AEL does not have a business or financial relation with Ravi Ruia for the purposes of Numetal's bid.

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.

IBC: Eligible to bid for Essar Steel as not a promoter of Uttam Galva, KSS Petron, says ArcelorMittal to NCLAT

ArcelorMittal and Numetal have filed petitions in the NCLAT challenging the disqualification of their first round of bids.

Essar Steel insolvency: Numetal questions ArcelorMittal's eligibility to bid for debt-ridden company under IBC

Numetal said ArcelorMittal should have first cleared dues by making upfront payment before submitting its resolution plan for Essar Steel

NuMetal offers Rs 37,000 cr for Essar Steel, wants second round of bids opened; ArcelorMittal opposes move

Both NuMetal and ArcelorMittal put in a second round of bids after the first bids were opined to be invalid