Delays in deciding the Bhushan Power & Steel (BPSL) case will only hurt the affected lenders and the bidder, a top JSW Steel executive told ET, even as the Enforcement Directorate approached the top court against a...
Steel
JSW Steel may bid for Gontermann Peipers as firm gets admitted to NCLT
Sajjan Jindal-controlled JSW Steel may bid for Gontermann-Peipers (India), a firm promoted by Pramod and Vinod Mittal, which was admitted to the National Company Law Tribunal (NCLT) last year. The cast and forged rolls...
NCLAT rejects plea challenging NCLT’s resolution plan of Uttam Value Steel
The National Company Law Appellate Tribunal (NCLAT) has dismissed a plea challenging NCLT’s approval to the resolution plan of debt-ridden Uttam Value Steel. A three-member bench has upheld the orders of the Delhi...
Liberty Steel seeks more acquisitions in India, to double Odisha capacity
London-based Liberty Steel Group, which acquired Adhunik Metaliks (AML) in March this year for Rs 500 crore, is looking for more acquisitions in India. The group sees high growth in the Indian economy after the country...
Tata may sell stake in JLR, UK steel plant as talks with British govt fail
With Tata Group’s talks with the British government on a financial rescue package failing, the conglomerate has to look for a strategic partner for Jaguar Land Rover (JLR) and sell its UK steel plant lock, stock, and...
Tata Steel offers UK taxpayers 50% stake in Port Talbot plant: Report
Tata Steel is reportedly offering the British taxpayer a 50 per cent stake in its Port Talbot steelworks in Wales as part of efforts to secure government backing to secure the future of the business in the wake of the...
UK govt may inject nearly £900 million and pick up an equity stake in Tata Steel UK
Tata Steel’s ongoing talks with the UK government to secure the future of its biggest steel works at Port Talbot include a proposal for the government to inject nearly £900 million and picking up an equity stake...
IBC faces test again as top court hears Bhushan Power & Steel case
The Supreme Court will have its task cut out in settling yet another contentious aspect of the Insolvency and Bankruptcy Code (IBC), once it starts hearing the Bhushan Power & Steel (BPSL) case. Although the Essar...
Salzgitter CEO sees no immediate need for M&A
Germany’s second-largest steelmaker Salzgitter sees no benefit from consolidation for now, Chief Executive Heinz Joerg Fuhrmann told shareholders on Wednesday, in a rebuff to its major rival Thyssenkrupp. Sources had...
ED moves SC to challenge NCLAT’s power to lift attachment order against Bhushan Power
The Enforcement Directorate has challenged the jurisdiction of the National Company Law Appellate Tribunal (NCLAT) in directing the agency to release the assets of Bhushan Power & Steel Ltd (BPSL) it had attached...
JSPL to sell Oman arm to promoter firm for $1 bn
Naveen Jindal-owned Jindal Steel and Power Ltd has accepted a binding offer to sell its entire stake in Jindal Shadeed Iron and Steel Co LLC (JSIS Oman) to promoter company Templar Investments Ltd. JSIS Oman was held...
ArcelorMittal to invest Rs 2,000 cr in Odisha, says Lakshmi Mittal
ArcelorMittal’s chairman & chief executive officer Lakshmi Mittal has pledged Rs 2,000 crore investment in Odisha. Though the chief of the world’s largest steel company didn’t spell out the specifics, the...
