January 09, 2020 1:06 am
The NCLT Bench also asked the liquidator to probe the financial affairs of Essar Power Jharkhand with respect to the erstwhile promoters’ and directors’ bid to enter into “preferential transactions”.
November 19, 2019 7:54 am
The Supreme Court’s order is being seen as bringing the rigour and momentum back into the IBC as an effective tool to deal with stressed assets in the economy.
March 01, 2019 4:53 am
If the NCLT Ahmedabad bench fails to pass the final order by March 8, the NCLAT would call on all the records and resolution plan, and pass an appropriate order by March 13
February 19, 2019 4:30 am
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.
February 13, 2019 1:13 am
During the hearing, NCLAT was informed that Ahmedabad bench has completed hearing on operational creditors plea and is scheduled to hear plea of suspended Board of Directors (Promotors) of Essar Steel later (in the day Tuesday).
January 08, 2019 12:42 am
Essar Global has now repaid around Rs 6,300 crore to ICICI Bank, Axis Bank and Standard Chartered Bank.
January 04, 2019 2:50 am
Commenting on the order, an Essar Group spokesperson said, “The judgement will have an important and urgent bearing in the case of resolution proceedings in the case of Essar Steel, where the NCLT Ahmedabad is seized with similar circumstances”.
September 04, 2018 2:13 am
Congress alleged that the probe is not moving fast because the companies being probed included some of the “favourite capitalists” of the Narendra Modi government.
March 02, 2018 12:43 pm
ArcelorMittal unit ArcelorMittal India Pvt Ltd submitted a plan to India's National Company Law Tribunal, which deals with insolvency and company disputes, on Feb. 12 to bid for Essar Steel in partnership with Nippon Steel.
September 07, 2017 2:21 am
The company said that capital expenditure in FY18 will lift the annual throughput from existing 68 million barrels to 75 million barrels and the project will also result in enhanced yields of high value products along with reducing crude cost and driving revenue growth.