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NUMETAL RUIA
Numetal to NCLAT: Aurora Enterprises would have no control over firmDuring the proceedings of the NCLAT, senior advocate Mihir Thakore representing Numetal said that the IBC does not disqualify anyone based ...17 Jul, 2018, 10.04 PM IST- Numetal makes Rs 37,000 crore bid for Essar Steel in round 2The disclosure was made even as the bankruptcy court declared the second round invalid and directed the resolution professional not to open...18 May, 2018, 06.28 AM IST
- ArcelorMittal parks Rs 7,000 crore with SBI to clear Uttam Galva duesA core committee of lenders of Essar Steel met the executives of the companies in Mumbai after ArcelorMittal’s payment was credited to the ...16 May, 2018, 08.49 AM IST
- Now, Numetal bats for 2nd round of bids for the bankrupt Essar SteelNumetal said that none of its shareholders have any overdue loans with any Indian lender without getting into the specifics of its appeal t...15 May, 2018, 07.37 AM IST
- Essar Steel lenders set rider for Numetal, ArcelorMittalWhile 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...09 May, 2018, 11.08 AM IST
- Essar bid: Numetal too has to clear dues of connected partiesLenders 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...30 Apr, 2018, 01.04 PM IST
- ArcelorMittal, Numetal get extra time to revise Essar Steel bidsTo become eligible, ArcelorMittal will have to repay the dues of Uttam Galva and KSS Petron, two defaulting companies in which it had stake...27 Apr, 2018, 11.52 PM IST
- Ruias add a Rs 32,000 crore twist to this year's biggest bankruptcy tussleNumetal was declared ineligible on the grounds that Rewant Ruia has a 25% stake in it and is thus seen as a person acting in concert with t...27 Apr, 2018, 09.13 AM IST
- Numetal to go with the original Essar Steel bidIndustry experts were divided on whether Arcelor’s ‘disability’ was based on the status of its declassification as promoter of Uttam Galva ...23 Apr, 2018, 08.32 AM IST
- ArcelorMittal, Numetal spar over eligibility at NCLTNumetal argued that the section 29A of the Insolvency and Bankruptcy Code (IBC) allows a defaulter to bid only after it sheds its defaulter...05 Apr, 2018, 10.19 AM IST
- Essar Steel rebidding: JSW only an investor in Numetal India arm, not a resolution applicantJSW has come on board Nu Metal & Steel, a drop-down subsidiary of Numetal Mauritius, as an “investor” with a 25% stake.04 Apr, 2018, 08.04 AM IST
- 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.02 Apr, 2018, 03.47 PM IST
- RP changes bidding rules to keep Ruias out of race for Essar SteelThe RFP prohibits any entity from transferring shares or management involvement directly or indirectly now or at any time in the future to ...02 Apr, 2018, 06.22 AM IST
- Numetal moves NCLT to stop lenders from opening 2nd round Essar Steel bidsLenders are in a hurry to complete the resolution process before the April 28 deadline, after which the company’s assets will be liquidated.30 Mar, 2018, 08.56 AM IST
- NCLT says no stay on essar steel 2nd bidNumetal and Lakshmi Mittal’s ArcelorMittal are battling it out for bankrupt Essar Steel.28 Mar, 2018, 12.54 PM IST
- Essar Steel to see new round of bidding after Numetal, ArcelorMittal's bids are declared ineligibleThe 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...21 Mar, 2018, 06.54 PM IST
- Numetal ready to buy out Rewant Ruia; claims their bid for Essar Steel fully legitNumetal and ArcelorMittal are the only two bidders for the 10-million tonne Essar Steel assets at Hazira, which owe the banks more than Rs ...16 Mar, 2018, 09.46 AM IST
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