Business  /  Published 22.12.20

Mittal claims twin refunds from Ruias

The Ruias and the Mittals are slugging it out in court over the repayment of security deposits worth a little over Rs 82 crore. The deposits had been placed by Essar Steel — which is now owned ...
By Our Special Correspondent in Mumbai

Business  /  Published 20.05.19

Mittal quibble in Essar battle

ArcelorMittal has drawn a fine distinction between “promoter” and “promoter group” to puncture the claim that it would be ineligible under the provisions of section 29A of the Insolvency and B...
By Sambit Saha in Calcutta

Business  /  Published 23.01.19

Essar Steel resolution in final lap

By Sambit Saha in Calcutta

Business  /  Published 29.01.19

NCLT bins Ruia bid for Essar Steel

Ruias live in hopeThe Ruias are hoping to challenge the NCLT order — and will be basing their argument on a ruling given by Supreme Court Justices R.F. Nariman and Navin Sinha in the case of Brillia...
By Sambit Saha in Calcutta

Business  /  Published 07.03.19

Arcelor to sell bonds for Essar Steel deal

ArcelorMittal will be raising $750 million through a bond flotation from which a part of the proceeds will be used to pay for the acquisition of Essar Steel India.Just a day before the National Compan...
By Our Bureau in Calcutta


Business  /  Published 25.10.18

Ruias spring counter-bid for Essar Steel

The Ruias of the Essar Group on Thursday lobbed a surprise, unsolicited bid valued at Rs 54,389 crore seeking to pay all classes of creditors of the troubled Essar Steel and take the steel maker out o...
By Our Special Correspondent in Calcutta

Business  /  Published 22.01.19

Steel titans differ over Essar offer to clear debt

Sajjan Jindal has backed the Ruia group’s proposal to repay the entire outstanding debt of Essar Steel, prompting a sharp response from ArcelorMittal, the selected top bidder for the bankrupt compan...
By Our Special Correspondent in Calcutta

Business  /  Published 25.10.18

Ruia bid for Essar puts focus on exit window

The Ruias’ attempt to retain control of Essar Steel with a last-gasp bid designed to steer the ailing steel maker out of the insolvency resolution process has put the spotlight on section 12A of the...
By Sambit Saha in Calcutta

Business  /  Published 03.12.19

Mittals fight for Essar pipeline

ArcelorMittal finally has Essar Steel in the bag but a battle for control has now broken out over a critical infrastructure element on which the success of the company crucially depends: a 253-km pipe...
By Sambit Saha and Pinak Ghosh in Calcutta

Business  /  Published 26.10.18

Essar Steel creditors back Mittal bid

The spannerLegal experts say ESIL’s route to recovery would surely be delayed by a spate of legal cases and the matter would finally be decided by the Supreme Court.Ruias reminded that exception has...
By Sambit Saha in Calcutta


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