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...
Steel
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...
JSW Steel seeks immunity from litigation against Bhushan Power
JSW Steel has sought immunity from future litigations against Bhushan Power & Steel for any illegal activity under the previous management amid reports of alleged bank fraud by former promoters of the troubled...
Essar insolvency ruling risks damage to India debt market
India’s insolvency tribunal has made a dangerous decision. Unless its judgment is quashed, credit costs for India Inc. will surge, shares of state-run banks will swoon and foreign investors will flee. The case concerns...
Not backing out from buying Bhushan Power, but anxious about alleged fraud reports: JSW tells NCLT
JSW Steel on Monday told the National Company Law Tribunal that the company is not backing out from the ongoing resolution process of Bhushan Power & Steel despite reports of alleged fraud by its former promoters...
NCLAT to hear ArcelorMittal’s plea on EPC Construction on August 8
The NCLAT on August 8 will hear global steel major ArcelorMittal’s plea, challenging Royale Partners’ bid to acquire EPC Construction India Ltd (ECIL), currently under insolvency proceedings. A three-member...
