ArcelorMittal

ArcelorMittal News

SC puts on hold ArcelorMittal’s takeover of Essar Steel; to hear appeals filed by CoC on August 7

A Bench led by Justice RF Nariman, while agreeing to hear all the four appeals, filed by SBI-led CoC, ICICI Bank, SBI and ArcelorMittal, on August 7, also asked the parties to maintain status quo with regard to the acquisition of Essar Steel till then.

Essar Steel acquisition: NCLAT rejects Ruias’ plea; approves bid with modification by ArcelorMittal

ESAHL had moved the NCLAT seeking rejection of ArcelorMittal’s Rs 42,000 crore bid to acquire Essar Steel, alleging that its promoter LN Mittal hid his association with loan defaulting firms run by his brothers.

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Essar Steel: NCLAT reserves order on ArcelorMittal takeover

Senior advocate Kapil Sibal appearing on behalf of Standard Chartered Bank, a secured creditor of Essar Steel, said ArcelorMittal should not be allowed to add working capital to brighten up its final resolution plan.

ArcelorMittal to NCLAT: Will pay Rs 42,000 crore for Essar Steel

NCLAT would continue to hear the Essar Steel insolvency case on May 21.

Resolution under IBC: Essar Steel shareholder seeks ArcelorMittal’s disqualification

Essar Steel Asia Holdings Ltd (ESAHL), which holds a significant stake in Essar Steel, has moved National Company Law Appellate Tribunal (NCLAT) seeking rejection of ArcelorMittal’s Rs 42,000 crore bid to acquire the bankrupt steelmaker, alleging that its promoter Lakshmi Mittal hid his association with loan defaulting firms run by his brothers. Seeking ArcelorMittal (AM) […]

Three ex-Essar Steel directors move NCLAT against ArcelorMittal takeover

On Friday, the Ahmedabad bench of the NCLT had approved the lenders’ plan to let global steel giant ArcelorMittal take over the debt-ridden Essar Steel.

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‘ArcelorMittal offers Rs 4,800 crore for Essar's Mahan power project’

In September 2018, ICICI Bank, the lead lender for the Essar Power's Mahan project, moved NCLT seeking initiation of insolvency proceedings against Essar Power MP.

Lenders approved our bid to buy Essar Steel: ArcelorMittal

ArcelorMittal intends to increase Essar Steel’s finished steel shipments to 8.5 million tonnes over the medium term.

ArcelorMittal inches closer to winning bankrupt Essar bid; agrees to clear its dues

Essar Steel “represents a unique and compelling opportunity” for Arcelor to establish a significant footprint in a fast growing market that’s poised to become the second-biggest producer of the alloy, Arcelor had said in a statement earlier this week.

Essar Steel: ArcelorMittal writes against Vedanta, withdraws later

ArcelorMittal on September 15 wrote to Essar Steel’s RP a letter relating to Vedanta’s alleged environmental law violations in India and Zambia, illegal mining, disregard for safety standards and human rights violations.

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