The Supreme Court on Wednesday deferred till 19 August hearing in the Essar Steel insolvency case, saying said the matter should be decided in light of fresh challenges following recent amendments to the Insolvency and...
Essar case: New amendments in IBC come under SC scanner
The recent amendments to the Insolvency and Bankruptcy Code (IBC), passed by Parliament and awaiting assent of the President, were brought to the notice of the Supreme Court by a section of creditors on Wednesday. A...
Tata Steel board approves of MoU with Synergy Metals and Mining Fund for divestment of Tata Steel Thailand
Tata Steel’s board on Wednesday approved of signing of a memorandum of understanding (MoU) with Dubai-based Synergy Metals and Mining Fund to divest 70% of its stake in Tata Steel Thailand. The approval comes a...
Tata Steel cancels pacts to sell Southeast Asian businesses to Hesteel Group
Tata Steel on Tuesday said it has terminated the definitive agreements to sell its Southeast Asian businesses to China’s Hesteel Group after the Chinese steel major failed to get regulatory approvals from the...
JSW keen to push consolidation in value-added steel products
JSW Steel wants to consolidate the working capital-strapped downstream or value-added steel products industry in the country through its bids for assets like Asian Colour Coated Ispat and Vardhman Industries, a senior...
No plan to revise or withdraw bid for Bhushan Power and Steel : Sajjan Jindal
JSW Steel will not revise its bid for Bhushan Power and Steel, but has appealed to the court for “complete protection” from the outcome of the investigations that are on against the promoters of the company...
Tata Steel to invest Rs 5,000 cr in logistics to boost competitiveness
From owning rail rakes and laying slurry pipelines to building greenfield ports, Tata Steel — the country’s oldest steel producer — is leaving no stone unturned to lower its logistics cost and make more competitively...
Apex court stays NCLAT verdict in Essar Steel insolvency case
The Supreme Court on Monday put on hold the sale of Essar Steel India Ltd to ArcelorMittal after lenders to the bankrupt Indian steel maker challenged an appeals court ruling that said operational creditors have to be...
Tata Steel confirms $600 million fundraising
Tata Steel will raise $600 million, partly to refinance loans and partly to fund the capital expenditure of phase two expansion at its Kalinganagar plant, Koushik Chatterjee, CFO, Tata Steel, said. The company is...
JSW Steel eyes packaging market, to invest Rs 1,000 cr in tinplate capacity
JSW Steel is investing close to Rs 1,000 crore in tinplate capacity, in tandem with India’s pledge of eliminating single-use plastics by 2022. JSW Steel has an annual installed capacity of 350,000 tonnes tinplate of...
NCLAT dismisses plea against insolvency of Tayo Rolls
The National Company Law Appellate Tribunal (NCLAT) has dismissed the plea filed against the ongoing insolvency of Tayo Rolls Ltd, a subsidiary of Tata Steel, filed by some of its employees. A two member bench headed by...
Lenders to Essar Steel move Supreme Court against NCLAT ruling
A consortium of lenders led by State Bank of India has filed a petition before the Supreme Court against a National Company Law Appellate Tribunal (NCLAT) ruling that Essar Steel’s operational creditors have to be...
