ET Explains: All about Essar Steel case and the latest twist in the taleThe company had been put on the block under IBC to recover over Rs 54,547 crore of unpaid dues.
23 Jul, 2019, 05.55 PM IST
Distribution of final proceeds after IBC resolution to be decided by judiciaryDistribution of proceeds under resolution plans has become a major sticking point in the insolvency proceedings of Essar Steel.
04 May, 2019, 07.23 PM IST
Rs 42,000 crore payout: NCLAT asks Essar CoC to keep operational creditors in mindNCLAT cited data provided by the IBBI that shows both financial and operational creditors have recovered around 48% of their claims.
28 Mar, 2019, 08.02 AM IST
Essar Steel CoC meets over distribution of Rs 42,000 cr, NCLAT to wait for the outcomeDuring the proceedings of the appellate tribunal, the counsel informed the bench that meeting was underway in accordance with the NCLAT ord...
27 Mar, 2019, 05.37 PM IST
NCLAT directs Essar Steel to call CoC meeting to reconsider distribution of fundsArcelorMittal's resolution proposal provides financial creditors Rs 41,987 crore out of their total dues of Rs 49,395 crore.
20 Mar, 2019, 03.56 PM IST
Essar Steel inching towards resolutionNCLAT gives conditional nod to ArcelorMittal’s resolution plan, to rule on fund disbursal later.
19 Mar, 2019, 07.23 AM IST
NCLAT allows implementation of ArcelorMittal's resolution plan for Essar SteelEssar had challenged NCLT nod to ArcelorMittal's bid for the debt-laden company.
18 Mar, 2019, 11.09 PM IST
NCLAT refuses stay on NCLT nod to ArcelorMittal plan; seek fresh distribution plan for bid amtEssar Steel directors had claimed that their offer of Rs 54,389-crore was superior as it clears 100 per cent outstanding of both financial ...
15 Mar, 2019, 06.40 PM IST
SC rejects petition by Essar Steel’s operational creditorsThe view taken by NCLT on the Ruia bid will be crucial in the final decision of the court.
12 Feb, 2019, 09.00 AM IST
ArcelorMittal moves NCLAT to speed up Essar hearingIf the National Company Law Tribunal (NCLT) fails to do so, the NCLAT said, it will call the matter and pass an order on the next hearing o...
24 Jan, 2019, 09.28 AM IST
Essar Steel says its Rs 54,389 crore offer superior to ArcelorMittal proposalArcelorMittal had offered to pay creditors Rs 42,000 crore to takeover Essar Steel.
23 Jan, 2019, 07.53 PM IST
NCLAT orders Ahmedabad court to expedite Essar Steel caseThe case has been running for about 500 days, while the maximum stipulated time for the resolution of any case under the Insolvency and Ban...
03 Jan, 2019, 01.41 PM IST
Essar Steel insolvency case: Creditors knock NCLAT door to expediteThe case has been running for about 500 days, while the maximum stipulated time for the resolution of any case under the Bankruptcy Code is...
02 Jan, 2019, 11.19 PM IST
NCLT defers Essar Steel hearing to December 10The court was supposed to hear as many as 21 applications related Essar Steel resolution on Wednesday.
28 Nov, 2018, 02.38 PM IST
Standard Chartered Bank challenges Essar Steel's resolution planThe bank in its application alleged that the resolution plan did not comply with the Insolvency Code.
26 Nov, 2018, 06.42 AM IST
Gail & Getco oppose sale of Essar Steel to ArcelorMittalLast month, the CoC of Essar Steel had picked ArcelorMittal's proposal for Essar Steel. Under the plan, financial creditors stand to get Rs...
20 Nov, 2018, 08.02 AM IST
Essar Steel seeks withdrawal from IBC process, offers Rs 54,389 cr to all creditorsThe plan includes cash payment of Rs 47,507 cr to all creditors, including Rs 45,559 cr to financial creditors.
26 Oct, 2018, 07.25 AM IST