Essar Steel
ArcelorMittal Nippon Steel taps Japanese banks for $5.15 bn loan for Essar Steel acquisition
17 Mar 2020
NCLAT approves ArcelorMittal bid for Essar Steel, rejects Ruias’ offer
04 Jul 2019
The NCLAT also revised the approved claims of operational creditors to Rs19,700 crore, up from Rs5,000 crore and said the committee of creditors has no role in distribution of amount between operational and financial creditors
NCLT rejects Essar Steel’s plea to withdraw
30 Jan 2019
The National Company Law Tribunal has rejected a plea by the Ruias in the Essar Steel case, saying there is no illegality in the lenders accepting the proposal by ArcelorMittal
GAIL, Getco seek rejection of ArcelorMittal’s Essar Steel bid
20 Nov 2018
Essar Steel Asia Holding Ltd, the promoter of Essar Steel, had proposed to pay Rs54,389 crore that would cover all dues of the financial and operational creditors
ArcelorMittal wins bankrupt Essar Steel despite Ruias’ last ditch effort
26 Oct 2018
Once all regulatory processes are completed, ArcelorMittal, the world’s top steel maker, will jointly own and operate ESIL in partnership with Nippon Steel and Sumitomo Metal Corporation, Japan’s largest steel producer and the third largest steel producer in the world
ArcelorMittal deposits Rs7,000 cr with SBI to ensure eligibility for Essar
16 May 2018
The move to park about Rs7,000 crore in an escrow account of State Bank of India follows ArcelorMittal's bid for Essar Steel being questioned because of its past shareholding in loan defaulter Uttam Galva Steel
NCLT directs Essar lenders to reconsider Arcelor, Numetal bids
21 Apr 2018
The NCLT order invalidates the second round of bidding for Essar Steel involving Vedanta and JSW Steel and opens the possibility of ArcelorMittal or Numetal winning the race for Essar Steel
JSW Steel offers to invest in Numetal arm for Essar Steel stake
16 Apr 2018
The announcement comes ahead of a possible order by the Ahmedabad bench of the National Company Law Tribunal on the eligibility of ArcelorMittal and Numetal to bid for debt-laden Essar Steel
ArcelorMittal moves NCLT against bar on Essar Steel bid
27 Mar 2018
ArcelorMittal was formally declared ineligible to bid for Essar Steel due to the technicality of still being listed as a promoter of Uttam Galva Steel on the stock exchange, even though it had sold its shareholding before submitting the bid offer
ArcelorMittal bid queers the pitch for local bidders of Essar Steel
26 Mar 2018
Banks led by State Bank of India, had, last week, voted in favour of inviting bids from six companies which had submitted expressions of interest after the resolution professional declared bids from ArcelorMittal and Numetal as ineligible
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