Essar Steel News
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Adani, Tata Steel And Essar Group Pledge Massive Investments In This State: 10 Points
The 'Make in Odisha Conclave 2022' in Bhubaneswar, an investors summit is making waves with a slew of industry leaders pledging massive investments in the state during the event.
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Essar Group Says It Is Debt-Free After Repaying $25 Billion
Essar Group has become debt-free, having settled the remainder of its $25 billion debt after the sale of two ports and a power plant to ArcelorMittal Nippon Steel Ltd (AM/NS), the group said today.
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PSU Banks May See Higher Profits, Must Tap Market: CEA
"The Budget's decision not to recapitalise the PSU banks is a good move and signals that all the banks are adequately capitalised at this point. The Judgement on Essar Steel provides greater clarity on the IBC. The profits of State Bank of India were boosted by the Essar Steel IBC resolution. Some of those accounts which have been fully written dow...
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Essar Steel Announces Cancellation Of Shareholder Holdings
In an e-mail statement to investors, Essar Steel India Company Secretary Pankaj S. Chourasia said that in connection with the corporate insolvency resolution process of Essar Steel India, the resolution plan submitted by ArcelorMittal India has been approved by the Supreme Court through its judgment of November 15, 2019, after considering the judgm...
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Supreme Court Stays Essar Steel Sale To ArcelorMittal
Essar Steel is under a debt of Rs 30,030 crore to financial creditors and Rs 11,969 crore to operational creditors
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Corporate Affairs Ministry Sees Rs 2.8 Lakh Crore Recovery From IBC Resolution Process
The pre-resolution processes have yielded results in 6,500 cases netting Rs 3 lakh crore on dead assets, according to a Ministry of Corporate Affairs official.
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Essar Steel Promoter Moves Tribunal Against ArcelorMittal Bid
Essar Steel's majority shareholder Essar Steel Asia Holdings (ESAHL) on Tuesday moved the National Company Law Appellate Tribunal (NCLAT) seeking the rejection of ArcelorMittal's bid to buy out the company.
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SBI Moves To Invoke Essar Steel Promoters' Personal Guarantees Of Rs 15,000 Crore
The SBI sought the attachment of global assets of Ruias to recover its balance Essar Steel dues, through debt recovery proceedings at the DRT.
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Tribunal May Ask ArcelorMittal To Pay Rs 42,000 Crore For Acquiring Essar Steel
ArcelorMittal's resolution proposal for Essar Steel provides financial creditors Rs 41,987 crore out of their total dues of Rs 49,395 crore.
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Tribunal Approves ArcelorMittal's Rs 42,000-Crore Bid For Essar Steel
The NCLT had approved the resolution plan on March 8 but the matter went to the appellate tribunal, following an appeal filed by Essar's promoters
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Government May Order Management Change In Essar Steel: Report
The move comes even as a fresh petition was filed before NCLAT by Essar executives seeking to set aside ArcelorMittal's winning bid approved by NCLT
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Essar Promoters Move Tribunal Against ArcelorMittal Bid Order
On Friday, the Ahmedabad Bench of the bankruptcy court cleared ArcelorMittal's Rs 42,000 crore resolution plan for acquiring Essar Steel.
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Bankruptcy Court Clears ArcelorMittal's Takeover Of Essar Steel
ArcelorMittal confirmed the National Company Law Tribunal (NCLT) had approved the takeover of the 10 million tonne steel plant of Essar Steel by itself and Japan's Nippon Steel & Sumitomo Metal Corp, paving the way for the first major foreign participation in India's steel sector.
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Central Bank Of India Puts Rs 3,300 Crore Of Bad Loans on Auction: Report
The accounts are Bombay Rayon Fashions Ltd, Alok Industries (Rs 1,251 crore), Bhushan Power & Steel (Rs 1,550.07 crore) and Essar Steel (Rs 423 crore).
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Tribunal Rejects Ruias Bid To Regain Control Of Essar Steel
The NCLT also said that there is no illegality in the decision taken by the Committee of Creditors (CoC) on selecting ArcelorMittal.
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Adani, Tata Steel And Essar Group Pledge Massive Investments In This State: 10 Points
The 'Make in Odisha Conclave 2022' in Bhubaneswar, an investors summit is making waves with a slew of industry leaders pledging massive investments in the state during the event.
-
Essar Group Says It Is Debt-Free After Repaying $25 Billion
Essar Group has become debt-free, having settled the remainder of its $25 billion debt after the sale of two ports and a power plant to ArcelorMittal Nippon Steel Ltd (AM/NS), the group said today.
-
PSU Banks May See Higher Profits, Must Tap Market: CEA
"The Budget's decision not to recapitalise the PSU banks is a good move and signals that all the banks are adequately capitalised at this point. The Judgement on Essar Steel provides greater clarity on the IBC. The profits of State Bank of India were boosted by the Essar Steel IBC resolution. Some of those accounts which have been fully written dow...
-
Essar Steel Announces Cancellation Of Shareholder Holdings
In an e-mail statement to investors, Essar Steel India Company Secretary Pankaj S. Chourasia said that in connection with the corporate insolvency resolution process of Essar Steel India, the resolution plan submitted by ArcelorMittal India has been approved by the Supreme Court through its judgment of November 15, 2019, after considering the judgm...
-
Supreme Court Stays Essar Steel Sale To ArcelorMittal
Essar Steel is under a debt of Rs 30,030 crore to financial creditors and Rs 11,969 crore to operational creditors
-
Corporate Affairs Ministry Sees Rs 2.8 Lakh Crore Recovery From IBC Resolution Process
The pre-resolution processes have yielded results in 6,500 cases netting Rs 3 lakh crore on dead assets, according to a Ministry of Corporate Affairs official.
-
Essar Steel Promoter Moves Tribunal Against ArcelorMittal Bid
Essar Steel's majority shareholder Essar Steel Asia Holdings (ESAHL) on Tuesday moved the National Company Law Appellate Tribunal (NCLAT) seeking the rejection of ArcelorMittal's bid to buy out the company.
-
SBI Moves To Invoke Essar Steel Promoters' Personal Guarantees Of Rs 15,000 Crore
The SBI sought the attachment of global assets of Ruias to recover its balance Essar Steel dues, through debt recovery proceedings at the DRT.
-
Tribunal May Ask ArcelorMittal To Pay Rs 42,000 Crore For Acquiring Essar Steel
ArcelorMittal's resolution proposal for Essar Steel provides financial creditors Rs 41,987 crore out of their total dues of Rs 49,395 crore.
-
Tribunal Approves ArcelorMittal's Rs 42,000-Crore Bid For Essar Steel
The NCLT had approved the resolution plan on March 8 but the matter went to the appellate tribunal, following an appeal filed by Essar's promoters
-
Government May Order Management Change In Essar Steel: Report
The move comes even as a fresh petition was filed before NCLAT by Essar executives seeking to set aside ArcelorMittal's winning bid approved by NCLT
-
Essar Promoters Move Tribunal Against ArcelorMittal Bid Order
On Friday, the Ahmedabad Bench of the bankruptcy court cleared ArcelorMittal's Rs 42,000 crore resolution plan for acquiring Essar Steel.
-
Bankruptcy Court Clears ArcelorMittal's Takeover Of Essar Steel
ArcelorMittal confirmed the National Company Law Tribunal (NCLT) had approved the takeover of the 10 million tonne steel plant of Essar Steel by itself and Japan's Nippon Steel & Sumitomo Metal Corp, paving the way for the first major foreign participation in India's steel sector.
-
Central Bank Of India Puts Rs 3,300 Crore Of Bad Loans on Auction: Report
The accounts are Bombay Rayon Fashions Ltd, Alok Industries (Rs 1,251 crore), Bhushan Power & Steel (Rs 1,550.07 crore) and Essar Steel (Rs 423 crore).
-
Tribunal Rejects Ruias Bid To Regain Control Of Essar Steel
The NCLT also said that there is no illegality in the decision taken by the Committee of Creditors (CoC) on selecting ArcelorMittal.
