The disclosure was made even as the bankruptcy court declared the second round invalid and directed the resolution professional not to open...

While the committee of creditors didn’t specify the amount, for Numetal it could be more than Rs 40,000 crore and for ArcelorMittal it coul...

Lenders 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...

To become eligible, ArcelorMittal will have to repay the dues of Uttam Galva and KSS Petron, two defaulting companies in which it had stake...

Numetal's application at National Company Law Appellate Tribunal is aimed at pre-empting a possible move by the lenders to call for fresh b...

Industry experts were divided on whether Arcelor’s ‘disability’ was based on the status of its declassification as promoter of Uttam Galva ...

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

Sources say the cash rich JSW is likely to be a minority investor in the Numetal consortium, but will hold operational control.

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

Lenders are in a hurry to complete the resolution process before the April 28 deadline, after which the company’s assets will be liquidated.

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...

The new condition set to be inserted by lenders will make it difficult for defaulting promoters to game the system and gain a backdoor entr...

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 ...

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

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

Bids for Essar Steel will open next week. Tata Steel is seen weighing options, while Anil Agarwal-led Vedanta may table an offer.