Arcelor Mittal Group-led Committee of Creditors (CoC) has rejected the resolution plan of Royal Partners Investment Fund, a sole bidder for KSS Petron and has approached the dedicated bankruptcy court for liquidation of...
Asian Colour Coated Ispat resolution professional seeks bid deadline extension
The resolution professional (RP) of Asian Colour Coated Ispat (ACCIL) has petitioned the Delhi bench of National Company Law Tribunal (NCLT) seeking an extension of the bid deadline for the asset even as the company...
Tata Steel posts record Indian output after acquisition of Bhushan assets
Tata Steel Ltd.’s Indian steel output rose to a record in its latest financial year thanks to its 2018 acquisition of Bhushan Steel Ltd. assets, potentially making Tata the country’s biggest producer. Production rose 35...
Essar Steel’s debt resolution battle moves to the Supreme Court
The Essar Steel’s debt resolution battle has moved to the Supreme Court with State Bank of India (SBI) moving the highest court against the NCLAT (National Company Law Appellate Tribunal) advice to give more cash to...
Tata Steel, ThyssenKrupp submit ‘comprehensive’ solutions for joint venture
German steel giant ThyssenKrupp said on Tuesday that it has submitted a comprehensive package of proposed solutions to the European Commission to obtain clearance for the merger of the two steel majors ThyssenKrupp...
ThyssenKrupp, Tata Steel offer concessions to allay EU concerns
ThyssenKrupp and Tata Steel have offered concessions to address EU antitrust concerns about their planned steel joint venture, the European Commission said on Tuesday. The EU competition regulator, which did not provide...
Salzgitter CEO eyes Thyssenkrupp-Tata Steel JV remedies
Salzgitter’s chief executive will look at any assets that ThyssenKrupp and India’s Tata Steel could divest as part of anti-trust remedies being offered to help their planned joint venture deal, he said on...
20 days more for resolution of Uttam Galva
The bankruptcy court on Monday allowed an extension of 20 days for the resolution of the twin stressed assets of Uttam Value Steels and Uttam Galva Metallics. The 270-day resolution deadline for the companies is to...
Essar Steel CoC meets over distribution of Rs 42,000 cr, NCLAT to wait for the outcome
The lenders of Essar Steel Wednesday informed the National Company Law Appellate Tribunal (NCLAT) that meeting of the Committee of Creditors of the debt-ridden firm is going on over distribution of Rs 42,000 crore...
Uttam Value Steels & Galva Metallics get new bids from CarVal consortium
The twin distressed assets of Uttam Value Steels and Uttam Galva Metallics have received a fresh bid from a consortium led by CarVal Investors, even as SSG Capital Management sweetened its offer, a person close to the...
Tata Steel to offer partial EU packaging sale for Thyssenkrupp deal approval: Sources
Tata SteelNSE 1.37 % is likely to offer to sell parts of its European packaging activities to secure regulatory approval for a planned joint venture with ThyssenKrupp, three people familiar with the matter told Reuters...
Thyssenkrupp, Tata Steel get EU extension of JV remedy deadline
Thyssenkrupp and Tata Steel have agreed with the European Commission to extend a deadline to submit remedies in exchange for regulatory approval for a planned European steel joint venture, ThyssenKrupp said. The...
