Vtb Capital

Essar Steel insolvency: Numetal moves NCLAT ahead of lenders' meet, hopes to pre-empt plausible call for fresh bids

Ahead of the lenders' meeting on Friday which may ask for fresh bids for the bankrupt Essar Steel's assets, Numetal on Thursday approached the NCLAT

Our Essar Steel bid legit, ready to buy out Rewant Ruia, says Mauritius-based Numetal

Numetal 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.

Rosneft, others to buy Essar Oil in $13 bn deal; Ruias to have only token 2% stake

The deal, which includes taking over of $4.5 billion debt on Essar Oil books, is likely to be signed on Saturday in Goa, sources privy to the transaction said.