person questions kss bid granted case narimanj equity valid second suppressed moral supreme clear revises dues disqualification late amends mittalled eligibility control proposal moved acquire prima pleas khambata regain bench

Articles for Numetal

From Linkin Park to Limp Bizkit, nu-metal is back but without the cargo pants and casual misogyny
2 months ago

From Linkin Park to Limp Bizkit, nu-metal is back but without the cargo pants and casual misogyny

The Independent  

Sign up to Roisin O’Connor’s free weekly newsletter Now Hear This for the inside track on all things music Get our Now Hear This email for free Get our Now Hear This email for free SIGN UP I would like to be emailed about offers, events and updates from The Independent. That comeback gathers pace this weekend as Linkin Park …

Music Bands Tiktok Sign Park Linkin Park Linkin
How bankruptcy got redefined in India
5 years ago

How bankruptcy got redefined in India

Live Mint  

Mumbai: On 16 December, the day it closed its acquisition of Essar Steel India Ltd, ArcelorMittal SA, the world’s largest steel company and the new owner of the steel mill, held a closing party at The Oberoi in Mumbai. Evolution of IBC When Standard Chartered Bank and State Bank of India filed insolvency proceedings against Essar Steel in August 2017, …

India Court Resolution Indian Case Steel Bankruptcy
SC Grants One More Opportunity To ArcelorMittal, NuMetal To Bid For Essar Steel [Read Judgment]
6 years, 3 months ago

SC Grants One More Opportunity To ArcelorMittal, NuMetal To Bid For Essar Steel [Read Judgment]

Live Law  

The Supreme Court Thursday granted one more opportunity to mining major ArcelorMittal and Russia's VTB Capital-backed NuMetal to bid for Essar Steel if they clear their Non-Performing Asset dues in two weeks.A bench comprising Justices R F Nariman and Indu Malhotra held that both the firms were ineligible under amended Insolvency and Bankruptcy Code to bid for the firm but …

Court Steel Nclat Bid Eligible Arcelormittal Essar
Supreme Court allows Arcelor, Numetal to rebid for debt-laden Essar Steel
6 years, 3 months ago

Supreme Court allows Arcelor, Numetal to rebid for debt-laden Essar Steel

Live Mint  

New Delhi: The Supreme Court on Thursday directed Numetal to clear all outstanding dues of not only Essar Steel Ltd but also bad debts of over one year of other Essar Group entities to be eligible to bid for the debt-laden steel maker. ArcelorMittal was also allowed by the court to submit revised resolution plans for Essar Steel provided it …

Resolution Steel Crore Nclt Dues Nclat Vedanta
Competition Commission of India approves ArcelorMittal's acquisition of debt-ridden Essar Steel
6 years, 3 months ago

Competition Commission of India approves ArcelorMittal's acquisition of debt-ridden Essar Steel

Firstpost  

Earlier this month, ArcelorMittal had offered Rs 42,000 crore to acquire Essar Steel, upstaging a Rs 37,000 crore bid by Russia’s VTB Group-backed Numetal. New Delhi: The Competition Commission has approved the acquisition of debt-ridden Essar Steel by a consortium of ArcelorMittal and Japan’s Nippon Steel & Sumitomo Metal Corporation. “@CCI_India finds no appreciable adverse effect on competition in respect …

India Acquisition Competition Commission Cci Jsw Steel Arcelormittal Essar
[ArcelorMittal Vs Numetal] Lender Banks Cannot Be Left Hanging For Forever: SC
6 years, 3 months ago

[ArcelorMittal Vs Numetal] Lender Banks Cannot Be Left Hanging For Forever: SC

Live Law  

"Lenders cannot be left hanging for forever", the Supreme Court today observed and made it clear that the Insolvency and Bankruptcy Code was brought to ensure that the dues of the companies, declared non-performing assets, are recovered by the banks.A bench of Justices R F Nariman and Indu Malhotra also asked the counsel for ArcelorMittal and NuMetal, involved in legal …

Bench Nclat Code Ibc Npa Numetal
ArcelorMittal Vs Numetal :Opinion Of CoC On Disqualification Of A Resolution Applicant Under S.29A Of IBC Is Only Prima facie One, NCLT Is The Statutory Authority To Decide It: Nariman.J
6 years, 3 months ago

ArcelorMittal Vs Numetal :Opinion Of CoC On Disqualification Of A Resolution Applicant Under S.29A Of IBC Is Only Prima facie One, NCLT Is The Statutory Authority To Decide It: Nariman.J

Live Law  

As the war between ArcelorMittal and NuMetal over Essar Steels spills into its third day before the Supreme Court, Justice Rohinton Nariman on Tuesday remarked that the opinion of the Committee of Creditors as to the disqualification of a resolution applicant under section 29A of the Insolvency and Bankruptcy Code of 2017 was only a prima facie one and that …

India Russia Disqualification Resolution Nclt Nariman Person
Essar Steel auction: Numetal questions ArcelorMittal’s eligibility, writes to creditors, RP
6 years, 3 months ago

Essar Steel auction: Numetal questions ArcelorMittal’s eligibility, writes to creditors, RP

Live Mint  

New Delhi: In a letter addressed to the resolution professional and the committee of creditors conducting the auction of Essar Steel to recover over ₹ 49,000 crore of unpaid loans to banks, VTB Capital-backed Numetal on Monday questioned the eligibility of ArcelorMittal. The National Company Law Appellate Tribunal on 7 September, ruled that second round bids put in by Numetal …

Steel Crore Nclt Round Mint Coc Mittal
NCLAT amends order on Essar Steel, adds Darius Khambata as senior counsel
6 years, 3 months ago

NCLAT amends order on Essar Steel, adds Darius Khambata as senior counsel

India TV News  

The National Company Law Appellate Tribunal on Monday amended its order on the Essar Steel, passed by it on September 7, to add the name of senior counsel Darius Khambata, which was left out. Khambata had represented Resolution Professional of the debt ridden firm Essar Steel in this matter before the appellate tribunal and his name was missing in the …

Steel Nclat Senior Counsel Khambata Essar Essar Steel Darius Khambata
ArcelorMittal’ Plea Against NCLAT Order To Pay Rs 7,000 cr Before Bidding For Essar Steel: SC Begins Hearing
6 years, 4 months ago

ArcelorMittal’ Plea Against NCLAT Order To Pay Rs 7,000 cr Before Bidding For Essar Steel: SC Begins Hearing

Live Law  

Steel and mining firm ArcelorMittal today assailed in the Supreme Court the order of the NCLAT asking it to pay Rs 7,000 crore to become eligible to bid for Essar Steel, saying that it had already divested its shares in the firms Uttam Galva Steel and KSS Petron, whose bad loans were directed to be paid by it.ArcelorMittal India, the …

Russia Order Nclat Bid Uttam Nclat Order Salve
Lakshmi Mittal-led ArcelorMittal revises bid for Essar Steel to Rs 42,000 crore
6 years, 4 months ago

Lakshmi Mittal-led ArcelorMittal revises bid for Essar Steel to Rs 42,000 crore

India TV News  

World's largest steel producer ArcelorMittal has offered Rs 42,000 crore to acquire Essar Steel Ltd, upstaging a Rs 37,000 crore bid by Russia's VTB Group-backed Numetal, sources with direct knowledge of the development said. Days after the National Company Law Appellate Tribunal held the second round of bids for debt-laden Essar Steel valid, ArcelorMittal India put in a revised offer …

Steel Second Crore Round Nclat Bid Offer
ArcelorMittal raises bid for Essar Steel to ₹42,000 crore
6 years, 4 months ago

ArcelorMittal raises bid for Essar Steel to ₹42,000 crore

Live Mint  

Mumbai: ArcelorMittal SA, the world’s largest steel maker, on Monday sharply raised its bid to acquire debt-laden Essar Steel Ltd to ₹ 42,000, said a person with direct knowledge of the matter. The National Company Law Appellate Tribunal in its judgement last Friday asked ArcelorMittal to first clear dues totaling ₹ 7,000 crore of Uttam Galva Steels Ltd and KSS …

Crore Bid Arcelormittal Essar Esil Essar Steel Kss Petron
NuMetal eligible to bid for Essar Steel: NCLAT
6 years, 4 months ago

NuMetal eligible to bid for Essar Steel: NCLAT

The Hindu  

The National Company Law Appellate Tribunal on Friday ruled as eligible the second bid of Russian VTB Bank-promoted consortium NuMetal for debt-ridden Essar Steel. However, rival bidder ArcelorMittal would have to first clear all the dues of its subsidiaries to become eligible to bid for the steelmaker, the tribunal said. Even as the bidding for Essar Steel went into a …

Nclat Bid Arcelormittal Essar Steel Numetal
Essar Steel insolvency: NCLAT says second round of bids by NuMetal, Vedanta are valid
6 years, 4 months ago

Essar Steel insolvency: NCLAT says second round of bids by NuMetal, Vedanta are valid

Firstpost  

New Delhi: The National Company Law Appellate Tribunal on Friday ruled that Russia’s VTB Capital-backed NuMetal’s second bid for Essar Steel is eligible but the same by ArcelorMittal will qualify only if it clears the Rs 7,000 crore dues of firms it was previously associated within three days. NuMetal and steel tycoon Lakshmi Mittal-led ArcelorMittal had in February submitted separate …

Steel Nclt Round Bench Nclat Bid Eligible
Numetal’s Essar Steel bid valid, Arcelor must clear dues
6 years, 4 months ago

Numetal’s Essar Steel bid valid, Arcelor must clear dues

Live Mint  

New Delhi: The National Company Law Appellate Tribunal on Friday held Russia’s VTB Capital-backed Numetal’s second bid valid and asked the world’s largest steel manufacturer ArcelorMittal to clear dues of Uttam Galva and KSS Petron till date within three days to turn its bid eligible for taking over debt-ridden Essar Steel. In the second round of bidding, Anil Agarwal’s Vedanta …

Steel Bid Coc Essar Steel Numetal
NCLT clears Numetal’s Essar Steel bid, puts a rider for ArcelorMittal
6 years, 4 months ago

NCLT clears Numetal’s Essar Steel bid, puts a rider for ArcelorMittal

Live Mint  

New Delhi: The National Company Law Appellate Tribunal on Friday ruled that second round bids put in by Russia’s VTB Capital-backed Numetal and Anil Agarwal’s Vedanta for acquisition of debt-ridden Essar Steel are valid but that of ArcelorMittal is contingent upon the company clearing ₹ 7,000 crore dues of Uttam Galva and KSS within three days. “The person shall be …

Resolution Steel Tribunal Nclat Bid Essar Steel Numetal
NCLAT reserves order on Numetal and ArcelorMittal pleas over debt-ridden Essar Steel bids
6 years, 5 months ago

NCLAT reserves order on Numetal and ArcelorMittal pleas over debt-ridden Essar Steel bids

Firstpost  

Numetal’s eligibility is linked to the shareholding of Arora Enterprises Ltd, which has already exited from Numetal. New Delhi: The NCLAT on Wednesday reserved its order on the petitions filed by world’s largest steel manufacturer ArcelorMittal and Russia’s VTB Capital-backed Numetal over issues pertaining to the eligibility of their bids for taking over debt-ridden Essar Steel. While reserving its judgment, …

Steel Nclat Arcelormittal Essar Essar Steel Numetal Kss Petron
Essar Steel Insolvency case: Aurora Enterprises would have no control over firm, says Numetal to NCLAT
6 years, 5 months ago

Essar Steel Insolvency case: Aurora Enterprises would have no control over firm, says Numetal to NCLAT

Firstpost  

NCLAT had earlier asked for confirmation that Rewant Ruia as a shareholder of Numetal through AEL does not have a business or financial relation with Ravi Ruia for the purposes of Numetal’s bid. New Delhi: Russia’s VTB Capital-backed Numetal on Tuesday said Ruia family scion Rewant will never be in management of Essar Steel even though the rules do not …

Steel Nclat Bid Section 29A 29A Essar Essar Steel
Essar Steel Insolvency case: NCLAT asks Rewant to file affidavit over his association with Ravi Ruia
6 years, 5 months ago

Essar Steel Insolvency case: NCLAT asks Rewant to file affidavit over his association with Ravi Ruia

Firstpost  

The National Company Law Appellate Tribunal also declined to allow the requests of Committee of Creditors of Essar Steel to open the second round of bids. New Delhi: The NCLAT on Monday asked Aurora Enterprises promotor Rewant Ruia to file an affidavit stating that he has no business with Ravi Ruia in the affairs of Numetal, which is in race …

Round Bse Nclat Nse Arcelormittal Essar Steel Ruia
Essar Steel bidding: NCLAT may give Arcelor, Numetal more time
6 years, 5 months ago

Essar Steel bidding: NCLAT may give Arcelor, Numetal more time

Live Mint  

New Delhi: The National Company Law Appellate Tribunal on Monday hinted at giving a chance to both Numetal Ltd and ArcelorMittal India Ltd, the resolution applicants who submitted bids for Essar Steel Ltd, to cure ineligibilities after which revised bids may be invited from the companies. Mukul Rohatgi, appearing for Numetal, argued that the eligibility of the resolution plan submitted …

Resolution Round Nclat Bids Essar Steel Numetal Arcelor
IBC: Eligible to bid for Essar Steel as not a promoter of Uttam Galva, KSS Petron, says ArcelorMittal to NCLAT
6 years, 6 months ago

IBC: Eligible to bid for Essar Steel as not a promoter of Uttam Galva, KSS Petron, says ArcelorMittal to NCLAT

Firstpost  

ArcelorMittal and Numetal have filed petitions in the NCLAT challenging the disqualification of their first round of bids. New Delhi: ArcelorMittal on Tuesday said it was eligible under the Insolvency & Bankruptcy Code to bid for Essar Steel as it was not a promoter of Uttam Galva and KSS Petron, and had already offloaded its shares before submission of the …

Steel Nclt Round Nclat Kss Salve Arcelormittal
Essar Steel insolvency: Numetal questions ArcelorMittal's eligibility to bid for debt-ridden company under IBC
6 years, 6 months ago

Essar Steel insolvency: Numetal questions ArcelorMittal's eligibility to bid for debt-ridden company under IBC

Firstpost  

Numetal said ArcelorMittal should have first cleared dues by making upfront payment before submitting its resolution plan for Essar Steel New Delhi: Russia’s VTB Capital-backed Numetal Ltd, which is in the race to acquire Essar Steel, on Monday alleged that rival ArcelorMittal India Ltd is not eligible to bid for the debt-ridden company under the IBC as it was the …

Steel Nclat Bid Essar Essar Steel Numetal Kss Petron