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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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UCO Bank Recovers Rs 800-900 Crore From Four Stressed Accounts
The accounts comprise those of RattanIndia Power, Essar Steel, Ruchi Soya and Prayagraj Power, a top official of the state-owned lender said.
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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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Bankruptcy Recoveries From 4 Companies To Give Banks Rs 54,000 Crore Boost
Lenders are expected to benefit from the recovery process from four failed companies -- Essar Steel, Prayagraj Power, Ruchi Soya and RattanIndia Power.
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ArcelorMittal Forms Joint Venture With Nippon Steel To Run Essar Steel
Essar Steel, which had debts of nearly Rs 50,000 crore, was among twelve large steel and infrastructure companies that were referred to bankruptcy court in 2017.
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Essar Steel Resolution To Boost Profitability In December Quarter: SBI Chief
Essar Steel was auctioned under the Insolvency and Bankruptcy Code to recover Rs 54,547 crore of dues of financial lenders and operational creditors.
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Supreme Court Allows ArcelorMittal To Complete Deal To Acquire Debt-Laden Essar Steel
The Supreme Court on Friday cleared the way for steel giant ArcelorMittal to complete its purchase of debt-laden Essar Steel for Rs 42,000 crore, setting aside the National Company Law Appellate Tribunal (NCLAT)'s order giving equal status to financial and operational creditors. The order came as a huge win for lenders who had challenged the bankru...
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Essar Steel Operational Creditors To Challenge New Amendments In Insolvency Law
Essar Steel was auctioned under the new IBC to recover Rs 54,547 crore of unpaid dues of financial lenders and operational creditors.
-
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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Opinion: Government's Plan To Change Bankruptcy Law Bold And Necessary
On Wednesday, the government said it would amend the 2016 insolvency law, a signature reform of Prime Minister Narendra Modi's first term. Investors will cheer.
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Tribunal Rejects Plea Against ArcelorMittal's Bid For Essar Steel
The Essar Steel case has dragged on for about 700 days and has seen global and local steel firms locking horns to grab Essar's assets
-
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.
-
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...
-
UCO Bank Recovers Rs 800-900 Crore From Four Stressed Accounts
The accounts comprise those of RattanIndia Power, Essar Steel, Ruchi Soya and Prayagraj Power, a top official of the state-owned lender said.
-
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...
-
Bankruptcy Recoveries From 4 Companies To Give Banks Rs 54,000 Crore Boost
Lenders are expected to benefit from the recovery process from four failed companies -- Essar Steel, Prayagraj Power, Ruchi Soya and RattanIndia Power.
-
ArcelorMittal Forms Joint Venture With Nippon Steel To Run Essar Steel
Essar Steel, which had debts of nearly Rs 50,000 crore, was among twelve large steel and infrastructure companies that were referred to bankruptcy court in 2017.
-
Essar Steel Resolution To Boost Profitability In December Quarter: SBI Chief
Essar Steel was auctioned under the Insolvency and Bankruptcy Code to recover Rs 54,547 crore of dues of financial lenders and operational creditors.
-
Supreme Court Allows ArcelorMittal To Complete Deal To Acquire Debt-Laden Essar Steel
The Supreme Court on Friday cleared the way for steel giant ArcelorMittal to complete its purchase of debt-laden Essar Steel for Rs 42,000 crore, setting aside the National Company Law Appellate Tribunal (NCLAT)'s order giving equal status to financial and operational creditors. The order came as a huge win for lenders who had challenged the bankru...
-
Essar Steel Operational Creditors To Challenge New Amendments In Insolvency Law
Essar Steel was auctioned under the new IBC to recover Rs 54,547 crore of unpaid dues of financial lenders and operational creditors.
-
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
-
Opinion: Government's Plan To Change Bankruptcy Law Bold And Necessary
On Wednesday, the government said it would amend the 2016 insolvency law, a signature reform of Prime Minister Narendra Modi's first term. Investors will cheer.
-
Tribunal Rejects Plea Against ArcelorMittal's Bid For Essar Steel
The Essar Steel case has dragged on for about 700 days and has seen global and local steel firms locking horns to grab Essar's assets
-
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.
