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NUMETAL MAURITIUS
Russia’s VTB set to make solo bid for Essar SteelSupreme Court had ordered that VTB cannot be barred from the auction process because of US sanctions.- 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...
- NCLT to pronounce judgement not later than 12th April in ArcelorMittal vs Numetal caseArcelorMittal, Committee of Creditors (CoC) and Numetal lawyers had come up with new documents/submissions, which they need to submit by Mo...
- 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...
- ArcelorMittal-Nippon questions JSW entry in Essar Steel rebidding“In order to participate in the re-bidding, you had to have submitted an expression of interest in the first round. I don’t believe the cur...
- 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.
- RP changes bidding rules to keep Ruias out of race for Essar SteelThe RFP prohibits any entity from transferring shares or management involvement directly or indirectly now or at any time in the future to ...
- Odisha slurry: Banks may refuse Numetal’s offer to repay debtThe company asked banks “to confirm immediately the amount due as on April 30 and also confirm that immediately upon receipt of such payment
- ArcelorMittal moves NCLT against Resolution Professional over rejection of Essar Steel bidEssar’s Committee of Creditors (CoC) decided to invite bids from all those who had submitted EoIs before April 2.
- 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 ...
- Tyazhpromexport looks to turn the corner, to harness tech knowledge bankTPE experts will be roped in to help ensure faster execution of the projects lying incomplete at Hazira and also to monitor an early restar...
- Numetal Mauritius seeks lenders’ nod for Odisha slurry stake buyEssar Steel has received bids from Numetal Mauritius and ArcelorMittal.
- Essar Steel bidders need to pass insolvency code testThe decision rests on accounting and consultancy firm Grant Thornton, which has been appointed by banks to evaluate the bids.
- HC stays Odisha slurry pipeline stake saleThe ownership of the slurry pipelin is under dispute for the last two years.
- Numetal, Arcelor enter last lap in Essar Steel bidOther contenders, including Tata Steel & Vedanta’s Anil Agarwal, pull out
- ArcelorMittal and Numetal bid for Essar SteelBoth, ArcelorMittal India Private Ltd., and Numetal Ltd have deposited Rs 500 crores in the escrow account to convey their interest in Essa...
- ArcelorMittal, Ruia-backed Numetal to be prime contenders for Essar SteelTata Steel is the other potential contender but most expect it to be less aggressive than the other two. Vedanta and JSW are unlikely to su...
- Numetal buys key pipeline provider, gains edge in race for Essar SteelThe consortium that is believed to be spearheading the Ruia family’s bid to retain Essar Steel, is buying a majority stake in Orissa Slurry...
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