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NUMETAL VTB CAPITAL
Anil Agarwal indicates he is open to raising bid for Essar SteelThe bid was more than offers made by ArcelorMittal and Russia's VTB Capital-backed NuMetal Ltd in the first round.- VTB Capital petitions Supreme Court to bid alone for Essar SteelTo become eligible, Numetal will have to pay all the dues related to its promoter and not just Essar Steel, much like its rival bidder Arce...
- Lawyers figuring out various bidding options: VTB CapitalBankruptcy laws do not allow promoters of insolvent companies to bid for their assets either directly or through consortium-type structures...
- NCLAT amends order on Essar Steel, adds Darius Khambata as counselKhambata had represented Resolution Professional of the debt ridden firm Essar Steel in this matter before the appellate tribunal and his n...
- NCLAT reserves order on Numetal and ArcelorMittal pleas over Essar Steel bidsArcelorMittal's first bid was rejected because of its holding in loan defaulting companies, Uttam Galva Steel and KSS Petron.
- 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 ...
- Essar Steel lenders urge NCLAT to expedite resolution processAt a hearing of the NCLAT, Sudipto Sarkar, counsel appearing for the Committee of Creditors (CoC) of Essar Steel, requested it to expedite ...
- ArcelorMittal says NuMetal alter ego of Ruias; NCLAT disagreesAt a hearing before a two-member bench of the National Company Law Appellate Tribunal (NCLAT), senior lawyer Abhishek Manu Singhvi, appeari...
- NCLAT to hear ArcelorMittal, NuMetal pleas tomorrowThe appellate tribunal's direction came over a petition filed by the lenders of debt-ridden Essar Steel requesting an early hearing on acco...
- Lenders move NCLAT for early hearing in Essar Steel caseThe NCLAT had on May 22 ordered status quo on insolvency of Essar Steel for two months as it admitted petitions of NuMetal and ArcelorMitta...
- Numetal, ArcelorMittal meet banks to prove eligibilityIn the April 24 meeting, the CoC had raised certain compliance issues under section 29A-c of the IBC.
- Essar Steel: Numetal moves NCLAT ahead of bankers' meet on FridayNumetal's application at National Company Law Appellate Tribunal is aimed at pre-empting a possible move by the lenders to call for fresh b...
- 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.
- NCLT says no stay on essar steel 2nd bidNumetal and Lakshmi Mittal’s ArcelorMittal are battling it out for bankrupt Essar Steel.
- ArcelorMittal moves NCLT against Resolution Professional over rejection of Essar Steel bidEssar’s Committee of Creditors (CoC) decided to invite bids from all those who had submitted EoIs before April 2.
- Numetal moves NCLT after ‘ineligible’ bid for Essar SteelNumetal, which is part owned by Russian firm VTB, moved the Ahmedabad bench of the NCLT. The tribunal will hear the matter on April 4 .
- 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...
- Numetal approaches NCLT to reinforce its eligibility to bid for Essar SteelThis was in view of various news reports suggesting that the Resolution Professional of Essar Steel has been advised that Numetal is not el...
- 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 ...
- ArcelorMittal, Ruia-backed Numetal to be prime contenders for Essar SteelTata Steel is the other potential contender but most expect it to be less aggressive than the other two. Vedanta and JSW are unlikely to su...
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