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11-20 results from 498 for query «essar»

10 July, 2018 5:07 PM ArcelorMittal to NCLAT; The company was eligible to bid for Essar Steel

ArcelorMittal today said it was eligible under the Insolvency & Bankruptcy Code to bid for Essar Steel as it was not a promotor of Uttam Galva and KKS Petron, and had already offloaded its shares before submission of the bids. Arguing before the National Company Law Appellate Tribunal (NCLAT) on behalf of ArcelorMittal, senior advocate Harish Salve submitted 70

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 72

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 75

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 62

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 64

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 68

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 105

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 75

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 66

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 71