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NUMETAL
Numetal to sweeten bid to Rs 44,000 crore for Essar? And will JSW hike stake in Numetal?Sources add Sajjan Jindal's JSW increasing its stake beyond 26% in Numetal cannot be ruled out.- Supreme Court reserves verdict on appeals of NuMetal, ArcelorMittal on eligibility to bid for Essar SteelNational Company Law Appellate Tribunal (NCLAT) had ruled that NuMetal's second bid for Essar Steel was eligible
- SC asks Numetal to establish subterfuge charge against ArcelorMittal in divesting sharesNuMetal accused steel and mining major ArcelorMittal of cheating Indian banks of Rs 7,000 crore.
- Both Arcelormittal, Numetal back in race for Essar SteelNumetal and ArcelorMittal have challenged each other’s eligibility under the provisions of Insolvency and Bankruptcy Code (IBC), which proh...
- Numetal to NCLAT: Aurora Enterprises would have no control over firmDuring the proceedings of the NCLAT, senior advocate Mihir Thakore representing Numetal said that the IBC does not disqualify anyone based ...
- ArcelorMittal says NuMetal alter ego of Ruias; NCLAT disagreesAt a hearing before a two-member bench of the National Company Law Appellate Tribunal (NCLAT), senior lawyer Abhishek Manu Singhvi, appeari...
- Numetal makes Rs 37,000 crore bid for Essar Steel in round 2The disclosure was made even as the bankruptcy court declared the second round invalid and directed the resolution professional not to open...
- Now, Numetal bats for 2nd round of bids for the bankrupt Essar SteelNumetal said that none of its shareholders have any overdue loans with any Indian lender without getting into the specifics of its appeal t...
- Numetal, ArcelorMittal meet banks to prove eligibilityIn the April 24 meeting, the CoC had raised certain compliance issues under section 29A-c of the IBC.
- Essar bid: Numetal too has to clear dues of connected partiesLenders have asked both Numetal and ArcelorMittal to make a case for their eligibility to bid for Essar Steel on May 2 and give a plan to c...
- Ruias add a Rs 32,000 crore twist to this year's biggest bankruptcy tussleNumetal was declared ineligible on the grounds that Rewant Ruia has a 25% stake in it and is thus seen as a person acting in concert with t...
- Essar Steel: Numetal moves NCLAT ahead of bankers' meet on FridayNumetal's application at National Company Law Appellate Tribunal is aimed at pre-empting a possible move by the lenders to call for fresh b...
- ArcelorMittal, Numetal spar over eligibility at NCLTNumetal argued that the section 29A of the Insolvency and Bankruptcy Code (IBC) allows a defaulter to bid only after it sheds its defaulter...
- Essar Steel rebidding: JSW only an investor in Numetal India arm, not a resolution applicantJSW has come on board Nu Metal & Steel, a drop-down subsidiary of Numetal Mauritius, as an “investor” with a 25% stake.
- Sajjan Jindal's JSW entering Essar Steel battle with Numetal?Sources say the cash rich JSW is likely to be a minority investor in the Numetal consortium, but will hold operational control.
- NCLT defers hearing in ArcelorMittal, Numetal plea over Essar Steel bid rejectionBoth ArcelorMittal and Numetal have moved the NCLT challenging the rejection of their bids for Essar Steel.
- 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 approaches NCLT to reinforce its eligibility to bid for Essar SteelThis was in view of various news reports suggesting that the Resolution Professional of Essar Steel has been advised that Numetal is not el...
- 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 ...
- Numetal Mauritius seeks lenders’ nod for Odisha slurry stake buyEssar Steel has received bids from Numetal Mauritius and ArcelorMittal.
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