Latest News on Rewant Ruia
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Rewant Ruia - Total results - 10
Oct 26, 2018
Ruias bid to regain Essar Steel with late payment smells of moral hazard; banks and govt must look at non-cooperative behaviourFrom all indications, the Essar Steel insolvency process shows the Ruias need to be put under a lens.
Sep 10, 2018
Essar Steel insolvency: Second round bids put in by Numetal, ArcelorMittal and Vedanta to be opened todayThe 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
Jul 19, 2018
NCLAT reserves order on Numetal and ArcelorMittal pleas over debt-ridden Essar Steel bidsNumetal's eligibility is linked to the shareholding of Arora Enterprises Ltd (AEL), (beneficially owned by Rewant Ruia) which has already exited from Numetal.
Jul 18, 2018
Essar Steel Insolvency case: Aurora Enterprises would have no control over firm, says Numetal to NCLATNCLAT 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.
Jul 17, 2018
Essar Steel Insolvency case: NCLAT asks Rewant to file affidavit over his association with Ravi RuiaThe 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.
Mar 26, 2018
ArcelorMittal moves NCLT, challenges lenders' decision to reject its bid for Essar SteelArcelorMittal has challenged committee of creditors' last week decision to reject its bid for Essar Steel on technical grounds at Ahmedabad bench of NCLT
Mar 23, 2018
Luxembourg-based ArcelorMittal plans to rebid for Essar Steel in second round of biddingThe SBI-led consortium of creditors had this week rejected the bids by ArcelorMittal and Numetal -- SPV floated by Russian lender VTB Bank and Rewant Ruia -- finding them ineligible under the IBC (Insolvency Bankruptcy Code) laws that debar related parties from bidding
Mar 22, 2018
Lenders reject Numetal, ArcelorMittal bids for Essar Steel; open fresh round of auction by 2 AprilSBI-led consortium of lenders to Essar Steel on Wednesday rejected the bids by both Numetal as well as ArcelorMittal after finding them to be ineligible
Mar 16, 2018
Our Essar Steel bid legit, ready to buy out Rewant Ruia, says Mauritius-based NumetalNumetal and ArcelorMittal are the only two bidders for the 10-million tonne Essar Steel assets at Hazira, which owe the banks more than Rs 45,000 crore.
Feb 20, 2018
ArcelorMittal, Numetal bids for Essar Steel recommended for rejectionBids by ArcelorMittal and a consortium led by Russia's VTB Group for acquiring debt-laden Essar Steel are said to have been recommended for rejection by the adviser evaluating the offers, sources privy to the development said