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Business

Ruias offer Rs 54,389 crore to retain Essar; ArcelorMittal opposes

The fresh offer for settlement by Essar Steel has been made under Section 12A of the IBC.

26 Oct 2018 10:15 AM IST

Bhushan Steel Ltd, acquired by Tata Steel under corporate resolution process, said today that its board of directors has approved the appointment of T V Narendran as chairman and non-executive additional director of the company.

Business

JSW Steel most likely winner for Bhushan Power

CoC may wait till October 22 when Tata Steel's plea challenging re-bids will come up for hearing before NCLT.

16 Oct 2018 10:01 AM IST

NCLAT has directed the resolution professional, committee of creditors and NCLT not to pass any order in the matter related to insolvency resolution of Essar Steel.

Business

JSW Steel seeking legal opinion if can bid solo for Essar Steel:...

JSW Steel had teamed up with NuMetal to place a Rs 37,000-crore offer for Essar Steel in the second round of bidding.

9 Oct 2018 4:59 PM IST

India has requested the US to exempt it from the hefty tariffs on steel and aluminium imports.

Business

NCLT asks Bhushan Steel CoC to consider Liberty House bid

NCLT has directed the committee of creditors (CoC) to complete its resolution proceedings by June 23.

23 April 2018 12:24 PM IST

Under the companys plan, Answers will lower its debt by $471 million, according to documents filed in Manhattans US Bankruptcy Court.

Business

Insolvency amendment bill to benefit one industry, says Opposition

The insolvency law empowers home buyers to be recognised as financial creditors.

23 July 2018 4:51 PM IST

Business

NCLAT allows lenders to meet and finalise Bhushan Power bid

Vacating its earlier stay, the appellate tribunal has directed the CoC of the company to consider the resolution plans.

20 July 2018 12:41 PM IST

Essar Steel promoters, however, wanted the CoC to consider their offer as it offered maximum value to all stakeholders and cannot be ignored citing some process lacunae.

Business

New twist to Essar tale, SBI seeks to sell Rs 15,000 cr bad loans

SBI has put the reserve price for the recovery of bad loans from Essar Steel India at Rs 9,587.64 crore.

17 Jan 2019 10:51 AM IST

Business

Essar Steel CoC cannot discriminate between operational creditors,...

The NCLAT would continue the hearing in the matter on Wednersday.

24 April 2019 8:44 AM IST

Jaypee Infratechs Interim Resolution Professional (IRP) Anuj Jain too favoured voting process for the revised offer.

Business

Jaypee Committee of Creditors decides to vote on NBCC bid

Bankers who participated in the CoC meet here opposed putting the NBCC's bid to vote and pitched for further...

15 May 2019 2:01 AM IST

UltraTech Cement, which had a cement production capacity of around 63 million tonnes, had added another 21.2 million tonnes capacity with the acquisition of Jaypees cement plants.

Business

Got letter of intent from lenders to acquire Binani, says UltraTech

The Committee of Creditors of Binani Cement on May 28 approved the resolution Plan submitted by UltraTech Cement.

30 May 2018 7:45 PM IST

$Moodys Investors Service on Monday termed mining giant Vedantas acquisition of bankrupt Electrosteel Steels through insolvency process as \credit positive\, saying the move would augment the formers business profile and revenue generation.$ Business

Vedanta asks NCLAT to lift stay over Electrosteel sale status quo

Renaissance has submitted before NCLAT that Vedanta is not eligible to bid for Electrosteel under section 29 A.

28 May 2018 5:25 PM IST

Vedanta acquires management control of Electrosteel Steels

Vedanta Ltd had last week deposited an upfront amount of Rs 5,320 crore also in the escrow account of Electrosteel...

11 Jun 2018 2:29 PM IST