Essar Steel India
- All
- News
- Videos
-
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.
-
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.
-
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.
-
Resolutions Of Binani Cement, Essar Steel Within Rules: Bankruptcy Board
The Ahmedabad bench of NLCT approved the ArcelorMittal's Rs 42,000 crore resolution plan, rejecting the Ruias settlement offer of Rs 54,389 crore.
-
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).
-
Madam, Don't Send Us to Insolvency Court, India Firms Tell Bank
Lenders lost out on 4,000 crore rupees in additional income due to delays in the resolution process beyond the time mandated by law, according to rating company ICRA.
-
Arun Jaitley Says 70,000-Crores Bad Loan Recovery Likely By March-End: 10 Points
Finance Minister Arun Jaitley said on Thursday that commercial banks were likely to recover Rs 70,000 crore of bad loans by the end of March, helped by resolution of 12 large cases. Some of the big cases, such as Bhushan Power and Steel, and Essar Steel India are in advanced stages of resolution, the finance minister said, adding that they are like...
-
NuMetal A "Shell Company", Can't Bid For Essar Steel, Says ArcelorMittal
Steel and mining firm ArcelorMittal tells the Supreme Court that its rival bidder NuMetal was not eligible to bid for Essar Steel on several grounds, including that it was a "shell company".
-
Essar Steel Auction: ArcelorMittal Moves Supreme Court Against Tribunal Order
The appellate tribunal, on September 7, had asked lenders, who are auctioning Essar Steel to recover over Rs 49,000 crore of unpaid loans.
-
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.
-
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.
-
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.
-
Resolutions Of Binani Cement, Essar Steel Within Rules: Bankruptcy Board
The Ahmedabad bench of NLCT approved the ArcelorMittal's Rs 42,000 crore resolution plan, rejecting the Ruias settlement offer of Rs 54,389 crore.
-
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).
-
Madam, Don't Send Us to Insolvency Court, India Firms Tell Bank
Lenders lost out on 4,000 crore rupees in additional income due to delays in the resolution process beyond the time mandated by law, according to rating company ICRA.
-
Arun Jaitley Says 70,000-Crores Bad Loan Recovery Likely By March-End: 10 Points
Finance Minister Arun Jaitley said on Thursday that commercial banks were likely to recover Rs 70,000 crore of bad loans by the end of March, helped by resolution of 12 large cases. Some of the big cases, such as Bhushan Power and Steel, and Essar Steel India are in advanced stages of resolution, the finance minister said, adding that they are like...
-
NuMetal A "Shell Company", Can't Bid For Essar Steel, Says ArcelorMittal
Steel and mining firm ArcelorMittal tells the Supreme Court that its rival bidder NuMetal was not eligible to bid for Essar Steel on several grounds, including that it was a "shell company".
-
Essar Steel Auction: ArcelorMittal Moves Supreme Court Against Tribunal Order
The appellate tribunal, on September 7, had asked lenders, who are auctioning Essar Steel to recover over Rs 49,000 crore of unpaid loans.
