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ARCELORMITTAL COMMITTEE OF CREDITORS
NCLT approves ArcelorMittal's Rs 2,360 cr bid for Odisha Slurry PipelineA two-member bench of the NCLT Cuttack gave a go ahead to the resolution plan of ArcelorMittal India, which had been approved by the Commit...- ArcelorMittal initiates Rs 42,000 cr payment for Essar Steel acquisitionArcelorMittal has initiated payment for acquisition of debt-ridden Essar Steel for Rs 42,000 crore.
- Look forward to close Essar Steel acquisition soon: ArcelorMittalThe verdict came on a plea of the committee of creditors challenging NCLAT's order of July 4, in which it had approved steel tycoon Lakshmi...
- Status quo on Essar Steel sale for nowCoC, SBI, ICICI, Arcelor had objected to NCLAT order directing financial & operational creditors be treated on a par.
- Blow for Ruias: NCLT rejects plea challenging Essar Steel sale to ArcelorMittalThe Lakshmi Mittal-led ArcelorMittal’s Rs 42,000 crore resolution plan for Essar Steel was approved by NCLT on March 8.
- Rs 42,000 crore payout: NCLAT asks Essar CoC to keep operational creditors in mindNCLAT cited data provided by the IBBI that shows both financial and operational creditors have recovered around 48% of their claims.
- Essar Steel CoC meets over distribution of Rs 42,000 cr, NCLAT to wait for the outcomeDuring the proceedings of the appellate tribunal, the counsel informed the bench that meeting was underway in accordance with the NCLAT ord...
- NCLAT directs Essar Steel to call CoC meeting to reconsider distribution of fundsArcelorMittal's resolution proposal provides financial creditors Rs 41,987 crore out of their total dues of Rs 49,395 crore.
- Essar Steel inching towards resolutionNCLAT gives conditional nod to ArcelorMittal’s resolution plan, to rule on fund disbursal later.
- NCLAT allows implementation of ArcelorMittal's resolution plan for Essar SteelEssar had challenged NCLT nod to ArcelorMittal's bid for the debt-laden company.
- NCLAT refuses stay on NCLT nod to ArcelorMittal plan; seek fresh distribution plan for bid amtEssar Steel directors had claimed that their offer of Rs 54,389-crore was superior as it clears 100 per cent outstanding of both financial ...
- Operational creditors with over Rs 1 cr dues from Essar Steel appeal to ArcelorMittal for paymentA forum of operational creditors has asked ArcelorMittal to pay their over Rs 1 crore in admitted dues from Essar.
- Essar Steel says its Rs 54,389 crore offer superior to ArcelorMittal proposalArcelorMittal had offered to pay creditors Rs 42,000 crore to takeover Essar Steel.
- Essar Steel insolvency case: Creditors knock NCLAT door to expediteThe case has been running for about 500 days, while the maximum stipulated time for the resolution of any case under the Bankruptcy Code is...
- NCLT defers Essar Steel hearing to December 10The court was supposed to hear as many as 21 applications related Essar Steel resolution on Wednesday.
- Standard Chartered Bank challenges Essar Steel's resolution planThe bank in its application alleged that the resolution plan did not comply with the Insolvency Code.
- Operational creditor moves NCLT against ArcelorMittal takeover of Essar SteelLast month, the CoC picked NRI billionaire Lakshmi Mittal-led ArcelorMittal's Rs 42,000 crore bid for takeover of Essar Steel.
- ArcelorMittal offers Rs 50,000 crore to buy Essar SteelThe deal includes payments to unsecured creditors and full repayment to small operational creditors.
- Revised bid for Essar Steel offers "unprecedented value" to creditors: ArcelorMittalThe remarks come a day after the leading global steel producer offered Rs 42,000 crore to acquire Essar Steel India Ltd (ESIL), upstaging a...
- Creditors of Essar Steel could appeal against NCLT orderThe move, if it happens, will be prompted by the fact that the lenders are not satisfied with financial bids received from ArcelorMittal an...
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