Fresh bids are being invited for Uttam Value Steels and Uttam Galva Metallics, after the lenders to the two companies rejected offers from SSG Capital Management and New Zone Intertrade FZE terming them...
Steel
Tata Steel sells indirect subsidiary Black Ginger
Domestic giant Tata Steel said on Monday it has divested the entire stake in indirect subsidiary Black Ginger 461 Pty Ltd (Black Ginger) to a Switzerland-based metals and mining group. Black Ginger has stake in an iron...
NCLT reserves order on Arcelor’s Essar bid
Essar Steel’s insolvency hearing ended on Thursday with the Ahmedabad bench of the National Company Law Tribunal reserving its judgement. The bankruptcy court is expected to pronounce multiple orders, including the main...
JSW Steel set to acquire Bhushan Power
JSW SteelNSE -1.92 % Tuesday went procedurally a step closer to acquiring an asset in bankruptcy-induced ownership change after the administrator overseeing the sale of Bhushan Power and Steel issued a letter of intent...
JSW Steel gets letter of intent for Bhushan Power & Steel acquisition
Bhushan Power & Steel, one of the 12 cases mandated by the Reserve Bank of India to be resolved under the Insolvency and Bankruptcy Code (IBC) has got a leg-up with the letter of intent (LOI) of being issued in JSW...
NCLAT extends deadline for NCLT Ahmedabad to decide on Essar Steel insolvency case by February 19
The National Company Law Appellate Tribunal (NCLAT) Tuesday granted NCLT Ahmedabad a week more to decide over the Rs 42,000 crore resolution plan submitted by ArcelorMittal for the debt ridden Essar Steel. A two member...
Essar Steel insolvency case: Operational creditors on tenterhooks
The fate of operational creditors in the Essar Steel insolvency case hangs in the balance, with the Supreme Court on Monday rejecting their petitions to stay the proceedings, and the bankruptcy tribunal’s Ahmedabad...
Thyssenkrupp, Tata Steel set to get EU warning on steel JV: Sources
EU antitrust regulators will likely warn this week Germany’s ThyssenKrupp and India’s Tata Steel NSE 2.18 % about their landmark joint venture unless they pre-empt the move by offering concessions, people...
Essar Steel insolvency case: Lenders to gain more, Arcelor tells NCLT
Defending itself against Standard Chartered Bank from diluting its bid for Essar Steel, ArcelorMittal on Thursday told the National Company Law Tribunal’s Ahmedabad Bench that lenders would gain more from the deal. The...
Essar Steel operational creditor moves SC challenging NCLAT’s powers
Kamlaljeet Singh Ahluwalia, an operational creditor of Essar Steel, moved the Supreme Court on Wednesday challenging two orders of the National Company Law Appellate Tribunal (NCLAT) directing the Ahmedabad bench of the...
Dalmia OCL acquires GSB Group GmbH, its first overseas buy
Dalmia-OCL, the refractories business of Dalmia Bharat Group, announced its first ever overseas acquisition of GSB Group GmbH – a German specialty refractory maker. The acquisition also marked the company’s expansion...
BPCL seeks liquidation of Essar Steel
Bharat Petroleum Corp Ltd (BPCL) today sought the liquidation of the assets of Essar Steel India Ltd at a bankruptcy court. The public sector oil company objected to ArcelorMittal’s resolution plan, which, it said...
