The NCLAT Wednesday asked the resolution professional of Essar Steel NSE 0.00 % to call a fresh meeting of CoC to discuss distribution of Rs 42,000 crore coming from ArcelorMittal’s resolution plan. A two-member...
NCLAT allows implementation of ArcelorMittal’s resolution plan for Essar Steel
In a big win for ArcelorMittal, National Company Law Appellate Tribunal (NCLAT) today gave conditional approval to ArcelorMittal’s Rs 42,000 crore resolution plan for Essar SteelNSE 0.00 % sale, subject to final...
Deadline for ACCIL’s bid likely to see extension
JSW Steel Ltd has emerged as the sole bidder for Asian Colour Coated Ispat Ltd (ACCIL), forcing the lenders to consider more steps to garner a robust response for selling the assets of the bankrupt downstream steel...
Essar Steel lenders mull options after NCLAT advice
Creditors to Essar SteelNSE 0.00 % are weighing three options, one of which might be put before an appellate bankruptcy court on Monday, as they seek to draw to a close the insolvency proceedings that have dragged on...
NCLAT supports rejection of Ruias’ Essar Steel offer
The National Company Law Appellate Tribunal (NCLAT) told Essar Steel Asia Holdings (ESAH) to withdraw its appeal against the rejection of its Rs 54,389-crore offer for Essar Steel, possibly making it harder for the...
NCLAT refuses stay on NCLT nod to ArcelorMittal plan; seek fresh distribution plan for bid amt
The National Company Law Appellate Tribunal Friday refused to stay a bankruptcy court order approving steel giant ArcelorMittal’s Rs 42,000 crore takeover bid for Essar SteelNSE 0.00 % and sought a fresh plan for...
NCLAT adjourns Essar Steel case till March 15
The National Company Law Appellate Tribunal (NCLAT) has adjourned hearing on the Essar Steel case till March 15, asking the promoters to clear all the group’s dues as per the Supreme Court’s order and then...
NCLAT asks Ruias to first clear all dues of nearly Rs 1.4 lakh crore to consider its bid for Essar steel
An appellate tribunal told Essar Steel NSE 0.00 % Asia Holdings (ESAH) that its Rs 54,389-crore resolution plan for Essar Steel would only be considered if the entity cleared the Essar Group’s entire bad debt. That...
Liberty falters, suitors line up for Adhunik Metaliks
Adhunik MetaliksNSE 5.00 % is seeing renewed interest from a clutch of strategic steel players as well as asset reconstruction companies (ARCs), even as the fate of the company’s ongoing resolution process with...
Standard Chartered, Ruias to appeal in NCLAT against Essar order
Standard Chartered Bank, the third-largest secured financial creditor of Essar SteelNSE 0.00 %, has decided to file an appeal before the National Company Law Appellate Tribunal (NCLAT) against the Ahmedabad bankruptcy...
NCLAT allows withdrawal of Liberty House bid for Amtek Auto’s ARGL
The National Company Law Appellate Tribunal (NCLAT) on Friday allowed the withdrawal of UK-based Liberty House bid for ARGL Ltd on the plea of resolution professional of the debt-ridden company. A two-member bench...
Thyssenkrupp, Tata Steel on collision course with Europe over joint venture: Sources
ThyssenKrupp and Tata Steel NSE -1.04 % will not go very far in concessions to gain approval for a planned steel venture, four people familiar with the matter said, adding their offer might not be enough to satisfy the...
