Numetal argued that the section 29A of the Insolvency and Bankruptcy Code (IBC) allows a defaulter to bid only after it sheds its defaulter...

“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...

JSW has come on board Nu Metal & Steel, a drop-down subsidiary of Numetal Mauritius, as an “investor” with a 25% stake.

The RFP prohibits any entity from transferring shares or management involvement directly or indirectly now or at any time in the future to ...

The company asked banks “to confirm immediately the amount due as on April 30 and also confirm that immediately upon receipt of such payment

Essar’s Committee of Creditors (CoC) decided to invite bids from all those who had submitted EoIs before April 2.

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 ...

TPE experts will be roped in to help ensure faster execution of the projects lying incomplete at Hazira and also to monitor an early restar...

Essar Steel has received bids from Numetal Mauritius and ArcelorMittal.

The decision rests on accounting and consultancy firm Grant Thornton, which has been appointed by banks to evaluate the bids.

The ownership of the slurry pipelin is under dispute for the last two years.

Other contenders, including Tata Steel & Vedanta’s Anil Agarwal, pull out

Both, ArcelorMittal India Private Ltd., and Numetal Ltd have deposited Rs 500 crores in the escrow account to convey their interest in Essa...

Tata 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...

The consortium that is believed to be spearheading the Ruia family’s bid to retain Essar Steel, is buying a majority stake in Orissa Slurry...