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NCLT declares rebid for Essar Steel invalid

Essar Steel owes around Rs 49,000 crore to banks, is the biggest asset on the block right now.

20 April 2018 9:31 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.

Essar leads corporate deleveraging; pays off Rs 1.4 lakh crore:...

I think we were the first to get off the block and actually take some decisive steps to reducing leverage, said Essar's...

13 Oct 2019 11:36 AM IST

ArcelorMittal aims to complete Essar Steel acquisition by 2019-end

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 IST

ArcelorMittal India Pvt Ltd submitted a plan to Indias NCLT, which deals with insolvency and company disputes, on Feb 12 to bid for Essar Steel in partnership with Nippon Steel.

Look forward to close Essar Steel acquisition soon: ArcelorMittal

Essar Steel was auctioned under the new IBC to recover Rs 54,547 cr of unpaid dues of financial lenders and operational...

15 Nov 2019 4:17 PM IST

Essar SteelBanks had moved the Supreme Court earlier this year after an appellate court judgment put the claims of Essars operational creditors on par with those of its lenders.

Supreme Court clears path for ArcelorMittal to acquire Essar Steel

The apex court said operational creditors cannot be treated on par with financial creditors of a bankrupt company.

15 Nov 2019 12:27 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.

NCLAT declines plea of Essar Steel operational creditor

NCLAT declined the plea of an operational creditor of debt-ridden Essar Steel seeking recovery worth Rs 800 crore.

30 Jan 2019 12:24 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.

NCLAT asks NCLT to take decision on Essar Steel's insolvency case by...

NCLT to pass an order on insolvency resolution plan submitted by Essar Steel's RP, in which ArcelorMittal emerged as the...

23 Jan 2019 11:56 AM 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.

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

Ruia family-owned Essar Oil and Gas will invest Rs 900 crore in drilling 150 more wells on its Raniganj CBM block in West Bengal.

Essar says all overseas debt cleared, USD 1.75 bn paid to Indian,...

Essar Global has now repaid about Rs 6,300 crore to ICICI Bank, Axis Bank, and Standard Chartered Bank.

7 Jan 2019 2:42 PM 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.

Essar Steel insolvency case: NCLAT asks NCLT Ahmedabad bench to...

The matter is listed at NCLT Ahmedabad on January 7 for next hearing.

3 Jan 2019 11:41 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.

NCLAT directs NCLT Ahmedabad to decide on ArcelorMittal's Essar Steel...

A two-member NCLAT bench said that if the NCLT fails to pass an order by this deadline, it would call records and pass...

28 Feb 2019 11:49 AM IST

Steel Minister Chaudhary Birender Singh

Phase of stress in steel sector is over: Minister

Essar Steel may finally go the ArcelorMittal way while stress in the steel sector is now way behind.

19 Feb 2019 1:42 AM IST