The committee has also sought day-to-day hearing of other such applications, filed by operational creditors.

Section 29(A) was introduced to prevent promoters from regaining control of companies that they had led to bankruptcy.

ArcelorMittal offered Rs 42,000 cr to settle Essar Steel's debt and a further Rs 8,000 cr of capital infusion.

Essar Steel promoters had made the offer to pay Rs 54,389 crore to clear all outstanding, including of operational creditors.

The remarks come a day after the leading global steel producer offered Rs 42,000 crore to acquire Essar Steel India Ltd (ESIL), upstaging a...

The 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 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...

The SBI-led consortium of creditors had this week rejected the bids by ArcelorMittal and Numetal finding them ineligible under the IBC.

The 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 and ArcelorMittal are the only two bidders for the 10-million tonne Essar Steel assets at Hazira, which owe the banks more than Rs ...

Bids by ArcelorMittal and Numetal Mauritius have raised red flags over eligibility but the government feels that the matter can be decided ...

The move will come under fire as the recent IBC amendment aims to stop promoters of such companies from regaining control unless they settl...

Essar Steel is owned by the Ruia family, which had bought out minority stakeholders a few years ago.

Those who take a moral high ground say promoters should be barred.

The 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...

The Securities Appellate Tribunal (SAT) has stayed the delisting of Essar Steel shares from the stock exchanges in an unprecedented, last-m...

The Ruias-controlled Essar group on Thursday said it intends to delist its key business units, Essar Steel and Essar Oil, to gain more flex...