Non-bank finance company Indostar and Edelweiss Asset Reconstruction Company have bought an exposure of the lenders to Bengaluru-based-steel firm BMM Ispat in a financial asset auction, conducted by State Bank of India...
Steel
ArcelorMittal gets EC nod to sell European steel assets to Liberty House
Global steel giant ArcelorMittal Wednesday said it has received approval from the European Commission to sell steel-making assets in Europe to Liberty House. “ArcelorMittal announces that it has received European...
Liberty House not losing hope for Adhunik Metaliks
In spite of failing to pay up ₹410 crore obligation within the deadline for the takeover of the debt-ridden Adhunik Metaliks, the Liberty House is hopeful of striking the deal, even as the issue will be heard in the...
Liberty misses deadline to pay Rs 410 crore bid money for Adhunik Metaliks
Liberty House Group has failed to pay the Rs 410-crore offer money for stressed steel company Adhunik MetaliksNSE -3.77 % within the deadline set by the bankruptcy court. The UK-based conglomerate cited lack of...
Bankruptcy delays raising bidders’ funding costs: JSW Steel
Delays in the sale of assets under India’s bankruptcy law are becoming a key challenge for bidders who “cannot wait indefinitely” because of funding constraints, according to JSW Steel Ltd. The Sajjan Jindal-run...
JSW Steel sells $500 million debt to overseas investors
The country’s largest private sector steel-maker JSW Steel Wednesday raised USD 500 million through an international bond issue. The five-year dollar money sale saw high demand from investors across Europe and...
NCLAT may ask Arcelor to deposit Essar bid amount of Rs 42,000 cr on Apr 23
Essar Steel India’s debt resolution inched closer to finality as the National Company Law Appellate Tribunal (NCLAT) on Tuesday said it might ask ArcelorMittal to deposit the bid amount of Rs 42,000 crore in a...
Tatas complete take over of Usha Martin’s steel business
Tata SpongeNSE 2.44 % has said it has completed the acquisition of Usha MartinNSE 2.84 %’s steel business undertaking including captive power plants, on Tuesday, April 09, 2019. The deal was completed...
Arcelor CoC rejects Royal Partners plan for KSS Petron
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...
