Essar Steel

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Essar Steel, Essar, NCLT, Ahmedabad NCLT, Business News, Latest Business News, Indian Express, Indian Express News

Essar Steel seeks time from NCLT

A single-judge bench at the Ahmedabad NCLT of Justice Bikki Raveendra Babu has scheduled the case for July 24

Essar Steel, Essar Steel Bankruptcy, NCLT on Essar steel, petitions against Essar steel 

Company is in debt of more than Rs 45,000 crore: Gujarat HC dismisses Essar Steel appeal against bankruptcy proceedings

NCLT needs to decide … whether the petition is … to be entertained: Gujarat HC

Essar Steel, Essar Steel Bankruptcy, NCLT on Essar steel, petitions against Essar steel 

Setback to Essar Steel as Gujarat HC disposes of its petition without any relief

Essar Steel had moved the court against Reserve Bank of India for initiating insolvency procedure against it. The apex bank has issued a release on June 13 directing the banks to start insolvency procedure against a dozen stressed companies including Essar.

Essar Steel, Essar Steel Bankruptcy, NCLT on Essar steel, petitions against Essar steel 

Essar steel case: Gujarat HC objects to RBI fast-tracking case at NCLT

Trouble: RBI had on June 13 asked banks to refer a dozen troubled firms — with a combined debt of close to Rs 2.4 lakh crore — to the NCLT and said that “such cases will be accorded priority by the NCLT”

Essar Steel case: Gujarat HC adjourns StanChart’s plea hearing

The matter pertains to the insolvency proceedings initiated by SCB against ESIL before NCLT under the provisions of the Insolvency and Bankruptcy Code, 2016 following a direction in that regard from the Reserve Bank of India dated June 13, 2017.

Essar, Essar steel, RBI, Gujarat High Court, business news,

Insolvency: Banks to start action against 3 steel firms

Steel companies account for 50 per cent of 12 large corporate defaulters identified by the Internal Advisory Committee of the RBI for insolvency proceedings. The total debt of 12 companies is estimated to be around Rs 2.5 lakh crore.

Jamnagar, Essar Oil, Business News, Indian companies,

Debt-laden Essar Steel likely to bring in strategic investor

Essar Steel is one of India’s leading integrated steel producers with an annual Pellet making capacity of 20 MTPA and steel making capability of 10 MTPA.

Essar Steel plans to raise $2 bn by June to pare rupee debt

The conversion of rupee loans into dollar will also increase the tenor of repayment to an average of around 10 years.

Iron ore pellet producers threaten to shut ops if export duty not rolled back

The government had imposing a 5 per cent export duty on iron ore last week, which companies say has dealt a body blow to their investments.

Insurers reluctant to take up Essar’s $6-bn export deal

According to industry sources, Essar had approached state-owned Export Credit Guarantee Corporation but it responded with reluctance.

Essar Steel hopes to raise $2 bn by FY’14 end to pare Indian debt

Pre-export funds are borrowed against confirmed orders from foreign buyers.

Briefly Business: Display cash status at ATM before transaction: RBI

To improve services,the Reserve Bank has asked banks to display a message to let customers know about the non-availability of cash

CAG blasts Narendra Modi govt for giving Rs 750 cr undue benefits to RIL,Essar

CAG trashes functioning of the Narendra Modi govt in its report today.

Big corporates got govt land cheap: CAG

Top audit watchdog says ‘undue benefits’ given to some firms.

SC reprieve for Vedanta,Tata,Essar in Orissa entry tax case

Apex court asks Orissa not to resort to coercive actions for entry tax dues