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ESSAR STEEL RESOLUTION
Fix the ABC of IBC: Why we should re-engineer the bankruptcy code furtherThe recent litigation around Jaypee has once again unleashed a raging debate over arbitrary decision-making by financial creditors, lack of...- 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...
- India plans special NCLT bench for cross-border insolvency cases to speed up resolutionsIndia plans to set up a special NCLT bench with trained members to handle cross-border insolvency cases once new rules under the Insolvency...
- Mesabi Metallics secures $150 million from Macquarie for Minnesota iron ore projectMesabi Metallics, a proud member of the Essar Group, has successfully garnered USD 150 million in funding from Macquarie Group. This invest...
- Satish Gupta, known for Essar Steel resolution, appointed as RP for Bombay RayonThe Mumbai NCLT replaced Santanu Ray, who was appointed as interim resolution professional (IRP), with Satish Gupta, an order posted on the...
- SAT quashes Sebi penalty for disclosure lapses in ArcelorMittal Nippon Steel case"The impugned order dated March 28, 2022 cannot be sustained and is quashed... However, it will be open to the respondent Sebi to initiate ...
- Essar Steel: Finally bankers expect money next monthOn November 15, the apex court paved the way for ArcelorMittal to take over Essar Steel for Rs 42,000 crore, giving primacy to secured cred...
- 3 of the 7 IBC amendments credit positive for banks: Report"The amendments will be applied with retrospective effect and will strengthen the case of secured creditors in the Essar Steel resolution,"...
- Essar Steel inching towards resolutionNCLAT gives conditional nod to ArcelorMittal’s resolution plan, to rule on fund disbursal later.
- NCLAT asks Ruias to first clear all dues of nearly Rs 1.4 lakh crore to consider its bid for Essar steelNCLAT just told Essar Steel its plan would only be considered if it cleared Essar Group’s entire bad debt.
- Finalise Essar Steel resolution by February 11: NCLAT92% lenders to the steel company have voted in favour of ArcelorMittal's resolution plan on October 25.
- 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...
- 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...
- NCLT defers Essar Steel hearing to December 10The court was supposed to hear as many as 21 applications related Essar Steel resolution on Wednesday.
- 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.
- 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...
- 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.
- ArcelorMittal says its bid is eligible for Essar SteelBoth VTB and Arcelor-Mittal have offered resolution plans for Essar Steel, that owes more than Rs 52,000 crore to its creditors.
- ArcelorMittal team visits Essar Steel, Bhushan Steel plantsThe Luxembourg-based ArcelorMittal is among top industry players, including Tata Steel, that have submitted bids to acquire the debt-ridden...
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