Recent Highlights
All Stories for Numetal
GPI Textiles' resolution professional writes to Essar Steel lenders, wants ArcelorMittal to pay its dues
Fp Staff • 6 years agoArcelorMittal has reportedly agreed to pay a total of Rs 50,000 crore to acquire Essar Steel
Anil Agarwal indicates he is open to raising bid for Essar Steel, says Vedanta best suited to take over indebted firm
• 6 years agoAnil Agarwal said Vedanta's Rs 35,000-36,000 crore offer in the first round of bidding for Essar Steel was the highest in the three-way race for Essar Steel that lenders are auctioning to recover about Rs 50,800 crore of overdue loans
Essar Steel insolvency case: ArcelorMittal to pay Rs 7,469 cr to clear Uttam Galva, KS Petron dues
• 6 years agoAfter 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.
Competition Commission of India approves ArcelorMittal's acquisition of debt-ridden Essar Steel
• 6 years agoEarlier 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.
No communication received from ArcelorMittal with regard to modalities of payment: Uttam Galva
• 6 years agoArcelorMittal had submitted a revised offer for Essar Steel which also included a commitment to pay Rs 7,000 crore dues to the financial creditors of Uttam Galva and KSS Petron to be eligible in the race to acquire the debt-laden firm.
Essar Steel bid: Russia's Numetal raises loan defaults by firms of Lakshmi Mittal's brothers
• 6 years agoNumetal and ArcelorMittal are locked in fierce takeover battle of Essar Steel and two are in the Supreme Court over bidding qualification.
ArcelorMittal sweetens offer for Essar Steel; submits revised proposal to committee of creditors
• 6 years agoWorld's leading steel giant ArcelorMittal has sweetened its offer for Essar Steel, as the bids received in the second round for the debt-ridden firm were opened by its lenders on Monday.
Essar Steel insolvency: NCLAT says second round of bids by NuMetal, Vedanta are valid
• 7 years agoA 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
• 7 years agoNumetal'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
• 7 years agoNCLAT 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.