Essar Steel | The Asian Age

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The NCLAT had last week directed the lenders of the Essar Steel to expeditiously take a decision on the bids.

ArcelorMittal assails NCLAT order in SC, reluctant to pay Rs 7,000 cr

NCLAT had asked ArcelorMittal to clear the stigma of defaulter by clearing the dues of its then subsidiaries.

13 Sep 2018 9:23 AM

The Supreme Court on Tuesday agreed to hear tomorrow a plea of ArcelorMittal seeking extension of time for payment of Rs 7,000 crore as ordered by NCLAT last week for its bid to become eligible for Essar Steel.

SC to hear tomorrow plea of ArcelorMittal against NCLAT order on Essar auction

Anil Aggrawal's Vedanta is a third qualified bidder for Essar Steel.

11 Sep 2018 11:45 AM

Second round bids by NuMetal, Vedanta for Essar Steel valid, says NCLAT

Justice S J Mukhopadhaya directed lenders of the Essar Steel to expeditiously take a decision.

07 Sep 2018 11:55 AM

The National Company Law Appellate Tribunal (NCLAT) would hear the appeals filed by Essar Steel resolution applicants - NuMetal and Arcelor Mittal on Wednesday.

NCLAT to hear ArcelorMittal, NuMetal pleas tomorrow

NCLAT had ordered status quo on insolvency of Essar Steel for two months.

29 May 2018 2:10 PM

The corporate insolvency resolution process of Essar Steel commenced on August 2.

Lenders move NCLAT for early hearing in Essar Steel case

The NCLAT had on May 22 ordered hearing on the appeals on a daily basis from July 23-26.

25 May 2018 3:37 PM

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 asks resolution professional, NCLT to hold order on Essar Steel

NCLAT would conduct daily hearing from July 23 on the matter.

22 May 2018 4:04 PM

NCLAT on Friday agreed to hear on May 17 cross petitions filed by Essar Steel bidders, NuMetal Ltd and ArcelorMittal India Ltd.

Essar Steel case: NCLAT to hear NuMetal, ArcelorMittal petition

The NCLAT took up the petitions on a day when a panel of lenders to Essar Steel is slated to meet to decide if fresh bids are to be called.

27 Apr 2018 12:15 PM

Ahmedabad bench of the NCLTon Thursday declared invitation of the second round of bids for Essar Steel.

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 Apr 2018 9:31 AM

The Section 29A debars promoters with direct or indirect links to the defaulted promoter of a bankrupt asset from bidding for the same through the insolvency process.

Essar Steel: ArcelorMittal drags bankers' rejection to NCLT

The bankers had met on March 23 in Mumbai and had rejected ArcelorMittal's bid along with that of Numetal.

26 Mar 2018 5:21 PM

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

ArcelorMittal to form JV with Nippon Steel to buy India's Essar Steel

In February, ArcelorMittal and a group led by Russia’s VTB made separate bids for Essar Steel.

02 Mar 2018 1:28 PM

A resolution plan will be submitted to IRP within the scheduled timeframe.

ArcelorMittal team visits Essar Steel, Bhushan Steel plants

ArcelorMittal is among top industry players, including Tata Steel, that have submitted bids to acquire the debt-ridden Essar Steel.

22 Nov 2017 3:37 PM

Tata Steel, Essar Group and ArcelorMittal are learnt to have submitted bids to acquire debt-laden Essar Steel.

Essar Group, Tatas, ArcelorMittal bid for Essar Steel

Essar Steel is among the largest single location steel producers with a 10 MTPA liquid steel capacity.

29 Oct 2017 6:52 PM

The steel company's debt has increased to over Rs 42,000 crores.

Gujarat HC junks Essar Steel plea against RBI's order

Essar Steel was among 12 accounts that were identified for insolvency proceedings.

17 Jul 2017 5:35 PM

Gujarat HC rejects Essar Steel plea against IBC circular

Earlier, HC had stayed insolvency proceedings against Essar Steel that was named among 12 major NPAs.

17 Jul 2017 4:51 PM

The new steel policy envisages that the steel demand for auto industry will be in the band of 10 MT by 2030.

Essar Steel eyes 25 pc market share in auto-grade steel segment

The company has developed new-generation crash resistant steel, high-strength cold rolled steel and dent-resistant steels.

25 Jun 2017 2:22 PM

While Bhushan Steel is in default of Rs 44,478 crore to banks, Essar Steel owes Rs 37,284 crore and Electrosteel Steels Rs 10,273.6 crore. (Representational image)

Lenders take Essar Steel to NCLT

Bankers, led by IDBI Bank, will be meeting on Friday to decide on Bhushan Power & Steel which has been in default of Rs 37,248 crore to the lenders.

23 Jun 2017 4:37 AM

The Code has defined time-frame for the resolution, the banker said, adding that 14-day time period has been given for admission or rejection of a case. (Representational image)

Essar Steel among RBI’s 12 defaulters

Banks will move for insolvency proceedings in these 12 cases after due process defined under the Insolvency and Bankruptcy Code, the banker added.

17 Jun 2017 6:15 AM

Essar group had then approached the Gujarat high court which had last year asked the company to pay the electricity duty to the state government.

SC reserves verdict on Essar's plea on power duty exemption

The state government had first refused Essar group's claims for duty exemption on electricity in 2003.

03 Apr 2017 6:21 PM

Essar steel gets into defence manufacturing sector

Essar Steel's import substitute products have been used for construction of advance naval destroyers.

02 Mar 2017 4:12 PM

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Mohan Guruswamy