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ESSAR STEEL PROMOTERS
SBI-led banks seek bids for Essar Group promoter guaranteesThe reserve price for the bids, with a June 17 deadline, is Rs 200 crore, showed a document on the website of the process advisor, BoB Capi...- Maharashtra govt clears mega projects of ₹2.56 lakh crore in key sectors like solar, electronics and green energyMaharashtra Chief Minister Devendra Fadnavis approved special incentives for 18 large projects totaling ₹2.56 lakh crore. The investments a...
- ArcelorMittal to pay Rs 42,000 cr for Essar Steel takeoverThe NCLAT would continue to hear the Essar Steel insolvency case on May 21.
- Essar lenders seek dismissal of two applications against ArcelorMittalThe committee has also sought day-to-day hearing of other such applications, filed by operational creditors.
- ArcelorMittal hits fresh hurdle over GPI duesSection 29(A) was introduced to prevent promoters from regaining control of companies that they had led to bankruptcy.
- ArcelorMittal wins bids to take over Essar Steel for Rs 42,000 croreArcelorMittal offered Rs 42,000 cr to settle Essar Steel's debt and a further Rs 8,000 cr of capital infusion.
- Promoter's offer should not be ignored for process lacunae: Essar SteelEssar Steel promoters had made the offer to pay Rs 54,389 crore to clear all outstanding, including of operational creditors.
- Revised bid for Essar Steel offers "unprecedented value" to creditors: ArcelorMittalThe remarks come a day after the leading global steel producer offered Rs 42,000 crore to acquire Essar Steel India Ltd (ESIL), upstaging a...
- SC to hear tomorrow plea of ArcelorMittal against NCLAT order on Essar Steel auctionThe apex court refused urgent hearing for ArcelorMittal's plea for payment of Rs 7,000 crore by today for its second bid to become eligible.
- Vedanta unlikely to participate in rebidding of Essar SteelVedanta had submitted an Expression of Interest (EoI) for Essar Steel but did not bid for the bankrupt steel maker which owes over Rs 45,00...
- ArcelorMittal plans to rebid for Essar SteelThe SBI-led consortium of creditors had this week rejected the bids by ArcelorMittal and Numetal finding them ineligible under the IBC.
- Essar Steel to see new round of bidding after Numetal, ArcelorMittal's bids are declared ineligibleThe committee of lenders discussed the option of going for a second round of bidding as both Numetal's and ArcelorMittal's bids were held i...
- Numetal ready to buy out Rewant Ruia; claims their bid for Essar Steel fully legitNumetal and ArcelorMittal are the only two bidders for the 10-million tonne Essar Steel assets at Hazira, which owe the banks more than Rs ...
- Essar Steel bids: Government won’t intervene, seeks quick fixBids by ArcelorMittal and Numetal Mauritius have raised red flags over eligibility but the government feels that the matter can be decided ...
- Ruias ready forces for a comeback at Essar SteelThe move will come under fire as the recent IBC amendment aims to stop promoters of such companies from regaining control unless they settl...
- Ruias keen on Essar Steel bid, but may have to pay Rs 7,000 crore to qualifyEssar Steel is owned by the Ruia family, which had bought out minority stakeholders a few years ago.
- Make forensic audit a must in all promoter casesThose who take a moral high ground say promoters should be barred.
- Lenders set stiff terms for debt recast of Essar SteelThe lenders want 49% in the steel maker and have demanded that the promoter family, the Ruias, give a personal guarantee and invest Rs 2,50...
- SAT stays Essar Steel's delisting plansThe Securities Appellate Tribunal (SAT) has stayed the delisting of Essar Steel shares from the stock exchanges in an unprecedented, last-m...
- Essar plans to delist steel & oil companiesThe Ruias-controlled Essar group on Thursday said it intends to delist its key business units, Essar Steel and Essar Oil, to gain more flex...
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