The Supreme Court on Friday paved the way for ArcelorMittal takeover of Essar Steel for Rs 42,000 crore.
19 Nov 2019 11:22 AM
Essar Steel was auctioned under the new IBC to recover Rs 54,547 cr of unpaid dues of financial lenders and operational creditors.
15 Nov 2019 4:17 PM
The apex court said operational creditors cannot be treated on par with financial creditors of a bankrupt company.
15 Nov 2019 12:27 PM
The company said its gross debt was at USD 13.8 billion as of June-end this year.
01 Aug 2019 1:04 PM
ArcelorMittal did not reply to an email sent for comment.
25 Jul 2019 6:33 PM
The NCLT has rejected ArcelorMittal's plea against bid of Royale Partners Investment Fund for ECIL, formerly Essar Projects India.
16 Jul 2019 9:01 AM
The company expected headline results to fall by at least 650 million rand (USD 45.78 million) in the first half of its financial year.
10 Jul 2019 3:36 PM
Essar Steel was auctioned under the new IBC to recover Rs 54,547 cr of unpaid dues of financial lenders and operational creditors.
05 Jul 2019 9:09 AM
Total claims of financial and operational creditors stand revised to Rs 69,192 crore.
04 Jul 2019 3:36 PM
The aim of the merger had been to create the second largest European steel company behind multinational giant ArcelorMittal.
11 Jun 2019 5:25 PM
Essar Steel has reported an Ebitda of around Rs 4,000 crore during the over 600 days of insolvency period.
21 May 2019 5:22 PM
Senior advocate Harish Salve appearing for ArcelorMittal accused Ruias of creating hurdles in Essar Steel resolution process.
20 May 2019 5:18 PM
The Committee of Creditors (CoC) had voted in favour of Rs 42,000 crore take over plan of the global steel major ArcelorMittal.
19 May 2019 12:43 PM
Essar Steel submitted before the NCLAT that the resolution plan moved by ArcelorMittal is in violation of the IBC.
16 May 2019 8:39 AM
The journey of de-leveraging and creating structurally strong enterprise continues, said TV Narendran.
15 May 2019 12:45 PM
Essar Steel shareholder ESAHL said ArcelorMittal India Ltd and its promoter Lakshmi Mittal had 'misled' Supreme Court.
07 May 2019 3:12 PM
The CoC had challenged the orders of the NCLAT of March 18 and March 20 before the Supreme Court by filing an SLP.
29 Apr 2019 1:48 PM
The transaction closing is anticipated to occur before the end of the first half of this year.
18 Apr 2019 9:01 AM
India’s bankruptcy court had approved ArcelorMittal’s USD 6 billion bid for debt-ridden Essar on March 8.
12 Apr 2019 4:33 PM
The bench also directed the operational creditors and financial creditors of Essar Steel to file a chart next week.
09 Apr 2019 3:59 PM