Page 2 - Essar Steel Insolvency

Twist in Essar Steel tale: Ruias make last-minute bid to pay Rs-543-bn dues

Ruias' last minute offer came as lenders started voting on two offers made by ArcelorMittal and Vedanta

Essar steel insolvency: Ruias offer to pay Rs 543.89 bn to creditors

The offer is for full settlement of claims of financial creditors, operational creditors and staff

ArcelorMittal pays Rs 74.69 bn to creditors of Uttam Galva, KSS Petron

The move is in line Supreme Court that had asked ArcelorMittal and Numetal to clear dues associated with affiliated companies to become elligible to bid for Essar Steel

Solo bid for Essar: JSW Steel seeking legal opinion, says official

JSW Steel had teamed up with NuMetal to place a Rs 370-billion offer for Essar Steel in the second round of bidding

Bankrupt, but not quite: A curious turn in the road may greet Essar Steel

What if Numetal does decide to pay to play? In that case, the third round of bidding to resolve India's most high-profile bankruptcy will be one where the company isn't even bankrupt anymore

Essar Steel case: SC to hear ArcelorMittal's plea against NCLAT order today

NCLAT had asked steel giant to pay dues linked to Uttam Galva and KSS Petron by Tuesday

Essar Steel lenders urge NCLAT to expedite insolvency resolution process

This can be extended for another 90 days by the NCLT

IBC: Eligible to bid for Essar Steel, ArcelorMittal tells NCLAT

ArcelorMittal alleged that its eligibility should be judged as on the date of submission of the resolution plan for Essar Steel

Essar Steel resolution case: Arcelor, Numetal may get 7 days to pay dues

The committee of creditors (CoC) in the Essar Steel resolution case considered giving ArcelorMittal and Numetal seven days to clear outstanding dues to become eligible.

Insolvency: JSW writes to CoC on inviting fresh bids for Essar Steel

JSW's pitch for a fresh round of bids is based on the premise of maximisation of value

ArcelorMittal vs Numetal: NCLT to pronounce judgement no later than Apr 12

NCLT asks Essar Steel RP to submit written details of arguments On Apr 9

Essar Steel: ArcelorMittal hits out at JSW for joining Numetal in 2nd round

JSW Steel would have more than 90 per cent share of the steelmaking capacity in western India

Three-way race for Essar Steel: ArcelorMittal, Numetal-JSW, Vedanta in fray

JSW is back in the race for stressed assets by partnering Russia's VTB Bank to bid via Numetal

Essar Steel insolvency: Spirit of 29A must be upheld, says ArcelorMittal

The government had hence introduced Section 29A to debar existing promoters from bidding

Essar Steel insolvency: ArcelorMittal drags bankers' rejection to NCLT

The bankers had met on March 23 in Mumbai and had rejected ArcelorMittal's bid along with that of Numetal

Insolvency process: Essar Steel likely to see second round of bidding

If the resolution professional fails to receive any bid, it will recommend liquidation of the company by April-end and Essar Steel's assets will be sold

Final bidding round: ArcelorMittal, Numetal vie for debt-laden Essar Steel

Bankers unsure if bids for Essar Steel will pass muster of amended bankruptcy code

Insolvency proceedings: ArcelorMittal submits bid for Essar Steel

Essar would also have access to deep bench of technical expertise and knowledge from across the group which is unparallelled in the steel industry

Insolvency: Tatas, Ruias submit bids for debt-laden Essar Steel

JSW Steel is said to have skipped submitting a resolution plan for Essar Steel