Further delaying the already- delayed resolution process for the Essar Steel, Essar Group director Prashant Ruia has moved a fresh application before NCLT here seeking to set aside the ArcelorMittal bid to take over the...
Steel
NCLAT rejects Tata plea contesting late Liberty bid for Bhushan Power
The National Company Law Appellate Tribunal (NCLAT) has turned down a plea by Tata SteelNSE -0.64 % to consider its bid for bankrupt Bhushan Power and Steel as the only legitimate bid for the company at a ruling on...
Finalise Essar Steel resolution by February 11: NCLAT
The Delhi-based National Company Law Appellate Tribunal (NCLAT) has directed the Ahmedabad bench of National Company Law Tribunal (NCLT) to decide on the resolution plan for Essar Steel on or before February 11. The...
Thyssenkrupp in talks with European Commission on merger with Tata Steel
ThyssenKrupp is holding good and constructive talks with the European Commission, which has launched a deepened probe into a planned European joint venture with India’s Tata Steel, its chief executive said on...
Stake sale in SE Asia business will improve Tata Steel’s leverage profile: Fitch
Fitch Ratings Thursday said Tata SteelNSE -0.68 %’s plan to sell majority stake in South-east Asia business will improve its leverage profile. As part of its strategic plan to exit non-core markets and focus more...
Promoters offered to pay Rs 54,389 crore: NCLT dismisses Ruias’ proposal to settle Essar debt
India’s dedicated insolvency court on Tuesday rejected the offer by Essar Steel promoters to pay off the company’s outstanding debt and extricate the alloy-maker from bankruptcy administration. It said that there was no...
Tata Steel arm sells 70% in SE Asia biz to China’s HBIS
TS Global Holdings (TSGH) Pte, a wholly owned subsidiary of Tata SteelNSE 1.11 %, has signed definitive agreements with the state-owned HBIS Group of China to divest majority stake in its South-East Asia business in a...
Thyssenkrupp has no plans to sell elevator unit: Rheinische Post
ThyssenKrupp has no plans to sell its elevators business, its chief executive told a German newspaper, also saying that a current plan to split the group in two would sufficiently boost its equity and capital base...
NCLT turns down prayer for revival of Adhunik Metaliks insolvency process
National Company Law Tribunal’s (NCLT’s) Kolkata Bench has turned down a prayer from the committee of creditors (CoC) of Adhunik Metaliks to pass an interim order to revive the corporate insolvency...
ArcelorMittal undervaluing Essar Steel, say Ruias
A day after ArcelorMittal castigated corporate rivals for trying to sabotage its takeover bid of insolvent Essar SteelNSE 0.00 %, the Essar Group, which is now interested in getting back the debt-laden steel company...
ArcelorMittal’s Essar bid delays planned JV with SAIL -official
ArcelorMittal’s prolonged bid to buy debt-ridden Essar Steel is delaying the world’s biggest steelmaker’s joint venture with state-owned Steel Authority of India Ltd (SAIL), India’s steel...
SBI sale of debt in Essar Steel not to stall IBC process, say sources
State Bank of India has decided to sell its loans in Essar Steel as it could see a spurt in provisioning for bad loans and erosion in capital base if the steel maker’s insolvency process gets delayed further...
