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...
Steel
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...
For now, JSW Steel will have to solo for acquisition of Bhushan Power
JSW Steel Ltd will not be able to seek an equity partner in the initial stage of its acquisition of bankrupt Bhushan Power and Steel Ltd (BPSL), said a senior company executive. Recent rulings by courts under the...
NCLT rejects insolvency plea against Bhushan Steel
The National Company Law Tribunal (NCLT) has dismissed a petition seeking to once again drag Bhushan SteelNSE 4.94 %, which Tata Steel took over last year, to the insolvency court to recover unpaid dues of about Rs 18...
Decide on ArcelorMittal Essar Steel bid by 8 March, NCLAT tells NCLT
The National Company Law Appellate Tribunal (NCLAT) on Thursday directed the NCLT Ahmedabad Bench to take a decision on the ₹42,000-crore resolution plan submitted by ArcelorMittal for debt-ridden Essar Steel by 8 March...
After IBC war Ruias & ArcelorMittal talk deal for Hazira port & power plant
Essar Group has discussed the sale of its captive port and power plant in Hazira, Gujarat, for Rs 8,500-10,000 crore with ArcelorMittal, multiple people aware of the discussions said. In a sign that the London-based...
