ArcelorMittal win challenged again as SCB moves NCLT

ArcelorMittal win challenged again as SCB moves NCLT

Following several operational creditors challenging the decision of Essar Steel’s Committee of Creditors (CoC) to sell the debt-ridden steel major to ArcelorMittal at the National Company Law Tribunal (NCLT), Standard Chartered Bank (SCB) has followed suit.

ArcelorMittal’s Essar Steel Win Spells Loss For Gujarat

ArcelorMittal’s Essar Steel Win Spells Loss For Gujarat

The Gujarat government is set to lose as much as ₹1,150 crore if the dedicated bankruptcy court upholds the committee of creditors’ recommendation to accept the resolution plan of ArcelorMittal to acquire Essar Steel Ltd, said two senior officials close to the development.

ArcelorMittal wins Essar Steel auction with Rs 42,000-crore

ArcelorMittal wins Essar Steel auction with Rs 42,000-crore

ArcelorMittal said on Friday that Essar Steel creditors voted in favour of its Rs 42,000-crore bid and have issued a letter of intent to sell the asset to the company. The development indicates that the lenders haven’t entertained the Ruia family’s Rs 54,389-crore last-minute

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