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ESSAR STEEL BANKRUPTCY
Fix the ABC of IBC: Why we should re-engineer the bankruptcy code furtherThe recent litigation around Jaypee has once again unleashed a raging debate over arbitrary decision-making by financial creditors, lack of...- SBI-led banks seek bids for Essar Group promoter guaranteesThe reserve price for the bids, with a June 17 deadline, is Rs 200 crore, showed a document on the website of the process advisor, BoB Capi...
- India plans special NCLT bench for cross-border insolvency cases to speed up resolutionsIndia plans to set up a special NCLT bench with trained members to handle cross-border insolvency cases once new rules under the Insolvency...
- AM/NS India finance chief Amit Harlalka to replace retiring CEO Dilip OommenDilip Oommen, CEO of AM/NS India, will retire at the end of June. Amit Harlalka, the current chief financial officer, will take over as CEO...
- NCLAT clears ways for takeover of Essar Steel by ArcelorMittalThe National Company Law Appellate Tribunal (NCLAT), however, gave operational creditors equal footing into the proceeds of insolvency auct...
- NCLT defers Essar Steel hearing to December 10The court was supposed to hear as many as 21 applications related Essar Steel resolution on Wednesday.
- Gail & Getco oppose sale of Essar Steel to ArcelorMittalLast month, the CoC of Essar Steel had picked ArcelorMittal's proposal for Essar Steel. Under the plan, financial creditors stand to get Rs...
- 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.
- View: Mittal's good Essar show mired in legal farceLet the delay in selling Essar be a wake-up call as India’s insolvency law needs a further tweak.
- Undaunted by possible litigation to wrest Essar Steel: LN MittalThe Mittals seemed unfazed having weathered 50 acquisitions in the past to grow to its current size of a 95.5-million tonne steel producer.
- Sajjan Jindal's JSW entering Essar Steel battle with Numetal?Sources say the cash rich JSW is likely to be a minority investor in the Numetal consortium, but will hold operational control.
- Ruias ready forces for a comeback at Essar SteelThe move will come under fire as the recent IBC amendment aims to stop promoters of such companies from regaining control unless they settl...
- ArcelorMittal team visits Essar Steel, Bhushan Steel plantsThe Luxembourg-based ArcelorMittal is among top industry players, including Tata Steel, that have submitted bids to acquire the debt-ridden...
- Warranted time to complete debt restructuring: Essar SteelEssar Steel said it apprehended that bankruptcy proceedings at this stage may lead to deterioration of the company's operations delay the r...
- RBI, SBI allege Essar Steel claims misleading, want bankruptcy proceedings vacatedThey claim that Essar Steel was not revealing the correct picture of its journey to the bankruptcy proceedings and is presenting the facts ...
- How Essar Steel's legal challenge can scupper government's boldest move on bad loansCracking down on bad loans, RBI last month identified 12 accounts for insolvency proceedings with each of them having over Rs 5,000 crore o...
- Essar Steel seeks more time from RBI for debt restructuring"Essar Steel’s operational performance has improved in the past one year and that it should be given more time to close its restructuring p...
- Have zero tolerance on NPAs; fight cases: Finmin to banksThe ministry has been asking banks to take tough action against such borrowers and be ready to fight court cases as well, official sources ...
- Essar Steel Minnesota hires debt restructuring advisers: SourcesEssar Steel has hired financial and legal advisers to help it restructure its debt, according to people familiar with the matter.
- Essar Steel Algoma demands cover against bankruptcy in USThe company filed for protection under chapter 15 of the Bankruptcy Code in the US while listing liabilities of more than $1 billion.
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