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UTTAM GALVA ASSETS
Deutsche Moves to block ArcelorMittal's takeover of Uttam GalvaArcelorMittal's resolution plan, which was submitted by Uttam Galva's resolution professional in June 2021, is pending before the bankruptc...- Metal giants in race for Uttam GalvaMittal has the highest exposure to Uttam Galva’s liabilities of Rs 9,742 crore, followed by other financial and operational creditors.
- Uttam Galva counters Deutsche’s $20-million recovery plea at NCLTUttam Galva has raised two contentions opposing the petition — one, that the debt was time-barred and the other, that the loan agreement wa...
- PMC Bank probe finds another ghost account operatorThese ‘ghost accounts’ are suspected to have been operated by entities with the knowledge of arrested bank officials, sources said. These a...
- SSG Capital moves NCLT; claims lenders ignored its claims for Uttam Galva assetsThe lenders have already approved CarVal-led consortium's resolution plan with 84 percent votes, which though is only around half the count...
- Banks approve Rs 2,400-crore resolution plan for steel assets of Uttam GalvaTwo people aware of the resolution plan said the offer includes equity commitment of Rs 100 crore. Of the total amount, about Rs 650 crore ...
- 20 days more for resolution of Uttam GalvaThe 270-day resolution deadline for the companies is to expire this Wednesday, with lenders still to take a final call on the two bids that...
- Uttam Value Steels & Galva Metallics get new bids from CarVal consortiumCarVal Investors, the investment arm of US-based agri group Cargill, has bid for the assets along with Asset Reconstruction Company (India)...
- SSG Capital Management-New Zone consortium bids for Uttam Value, Galva MetallicsSSG Capital Management, founded by ex-Lehman Brothers executives, has bid for the twin assets together with Synergy Metals and Mining Fund ...
- ArcelorMittal deploys team to oversee Uttam Galva operationsArcelorMittal, the world’s largest steelmaker, became the sole financial creditor of Uttam Galva after paying off outstanding dues of about...
- List of resolution applicants for Uttam Value, Uttam Galva metallics growsAPL Apollo had also submitted an EoI for Uttam Value Steels alone but was not identified as an eligible resolution applicant.
- ArcelorMittal looks to buy ownership of Uttam GalvaUttam Galva owed lenders Rs 6,880 crore as of September last year. AM had acquired 29.05% of Uttam Galva's stake in 2009 and has since been...
- JSW Steel, 3 others eye Uttam Galva companiesAPL Apollo, meanwhile, has shown interest in buying Uttam Value Steels.
- ArcelorMittal to NCLAT; The company was eligible to bid for Essar SteelArguing before the National Company Law Appellate Tribunal (NCLAT) on behalf of ArcelorMittal, senior advocate Harish Salve submitted that ...
- ArcelorMittal says may pay off dues of Uttam Galva as a 'goodwill gesture'The Committee of Creditors (CoC) had yesterday met representatives of ArcelorMittal and Numetal which are in the race to acquire the stress...
- ArcelorMittal says it sold stake in Uttam Galva before Essar Steel bidWhile ArcelorMittal was disqualified on technical grounds that its declassification was not notified on the stock exchanges at the time of ...
- ArcelorMittal to cash out of Uttam Galva at a big loss to avoid IBC googlyThe end of Mittal's 9-year-old investment ends months of speculation and corporate shadowboxing over his eligibility to bid for stressed st...
- Lenders set to name PwC as admin for Uttam companiesUttam Galva Metallics has outstanding dues of Rs 9,500 crore.
- ArcelorMittal says 29% in Uttam Galva no hindrance to stressed asset bidding“We hold a non-controlling minority shareholding in Uttam Galva, have no representation on the board of directors, nor influence on managem...
- Tribunals dismiss Macquarie Bank's insolvency petition against Uttam Galva MetallicsIn an order dated July 17, NCLAT said that Macquarie Bank had no office in India, nor any account with any of the local banks or financial ...
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