Receive up-to-the-minute news updates on the hottest topics with NewsHub. Install now.

Search results

1-10 results from 487 for query «essar»

22 May, 2018 4:35 PM NCLAT orders status quo on Essar Steel

The National Company Law Appellate Tribunal (NCLAT) on Tuesday ordered a status quo on the insolvency process for Essar Steel for two months as it admitted petitions of Numetal and ArcelorMittal over bidding eligibility. The tribunal directed the resolution professional (RP), committee of creditors (CoC) and the NCLT not to pass any order in the ongoing 47

27 April, 2018 4:24 PM NCLAT to hear Numetal, ArcelorMittal pleas on May 17

Issues notices to RP, credit committee, 2 petitioners; replies to be filed in a week The National Company Law Appellate Tribunal (NCLAT) on Friday agreed to hear on May 17 the cross petitions filed by Essar Steel bidders, Numetal Ltd. and ArcelorMittal India Ltd., challenging eligibility criteria. The NCLAT issued notices to a committee of Essar Steel 49

12 April, 2018 5:22 PM Essar Steel resolution may face further delay

The 270-day deadline ends on April 29 Essar Steel’s bankruptcy resolution may face further delays after the Ahmedabad bench of the National Company Law Tribunal (NCLT) declined to modify an order barring the resolution professional (RP) from opening the second round of bids for the firm till it pronounces judgement on the eligibility of the first-round 41

12 April, 2018 5:15 PM Essar Oil still owes Iran €500 million

After having paid about €2 billion in outstanding dues: chief executive B. Anand Essar Oil still owes about €500 million in payments for previous purchases of Iranian crude after having paid about €2 billion in outstanding dues, chief executive B. Anand said. The outstanding payments stem from delays in paying for Iranian oil when the country was under 43

30 March, 2018 3:16 PM Numetal buys 70% in pipeline firm

Days before the second round of bids come in for the takeover of Essar Steel, Russia’s VTB Capital-backed Numetal has snapped up a 70% stake in Odisha Slurry Pipeline Infrastructure Ltd., which feeds raw material to Essar’s Paradip steel plant. Numetal, the Mauritius-based investment vehicle where Russia’s second largest bank VTB Group is a majority 50

26 March, 2018 2:07 AM Essar Steel auction: NCLT's Ahmedabad bench to hear Numetal plea on bid eligibility on Tuesday

The Ahmedabad bench of National Company Law Tribunal will on March 27th take up Numetal's plea to declare its bid for Essar Steel, eligible. If successful, the development will be another turn in the contentious auction. The Ahmedabad bench of National Company Law Tribunal will on March 27 take up Numetal's plea to declare its bid for Essar Steel, eligible 86

19 March, 2018 11:57 AM Private fuel retailers double petrol, diesel market share

Private fuel retailers like Rosneft-owned Essar Oil and Reliance Industries have doubled their market share in the last three years, capturing close to 7% of petrol sales and over 8% of diesel sales. Oil Minister Dharmendra Pradhan, in a written reply to a question put to him in the Lok Sabha, said private companies were allowed to sell petrol and diesel 52

5 March, 2018 4:32 PM Essar arm to double gas production

Essar Oil and Gas to invest ₹900 cr. in West Bengal coal bed methane block Essar Oil and Gas Exploration and Production Ltd. (EOGEPL) , the upstream exploration and production arm of Essar, would invest ₹900 crore to increase its CBM (coal bed methane) production at Ranigunj in West Bengal, according to a top official. “We will now focus on production 50

2 March, 2018 8:48 AM ArcelorMittal To Form Joint Venture With Nippon Steel To Buy Essar Steel

ArcelorMittal SA, the world's largest steelmaker, said on Friday its India unit would form a joint venture with Japan's biggest steelmaker Nippon Steel & Sumitomo Metal Corp to buy steelmaker Essar Steel India Ltd, which is undergoing bankruptcy proceedings. ArcelorMittal unit ArcelorMittal India Pvt Ltd submitted a plan to the National Company Law Tribunal 56

24 February, 2018 3:10 PM ArcelorMittal bid is higher than Numetal for Essar Steel

IRP to assess if the bidders meet the eligibility criteria Laxmi Niwas Mittal-led ArcelorMittal is understood to made the highest bid in excess of ₹50,000 crore to buy distressed Essar Steel as per Insolvency and Bankruptcy (IBC) Code, 2016 provisions. ArcelorMittal bid is said to be much more than that of Mauritius-based special purpose vehicle (SPV) 13