Around 29 operational creditors to Essar Steel have moved the Ahmedabad bench of the National Company Law Tribunal (NCLT) against the resolution plan submitted by ArcelorMittal and passed by the committee of creditors (CoC).
Weeks after the Committee of Creditors (CoC) of bankrupt Essar Steel selected the take-over bid submitted by ArcelorMittal, arguably ignoring last-minute settlement offer made by the company’s stakeholders
Reliance Industries will make a fresh investment of Rs 3,000 crore in Odisha, its Chairman Mukhesh Ambani announced here Monday. Reliance Industries has emerged as one of the largest investors in the state and has already invested Rs 6,000 crore, he said.
Essar Steel India Ltd sought a liquefied natural gas (LNG) cargo on an online trading platform this week, three industry sources said on Thursday. The company, a unit of Indian commodity conglomerate Essar Group
Sajjan Jindal-led JSW Energy, that is reviving an old hydropower project plan and is scouting for acquisitions, has warned that the sector needs immediate attention as problems have crippled new projects.
ArcelorMittal’s acquisition of Essar Steel is a done deal despite attempts by erstwhile promoters, the Ruias, to retain the asset, said bankers with knowledge of the matter. On the other hand, a final decision on the matter may be delayed