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According to media reports, ArcelorMittal had quoted higher than Numetal, which still is below the fair value as it quotes only 40% of Rs 450 bn due to them from Essar Steel.....»»

Legal sources close to Numetal said if the bids were rejected on commercial terms then the 30-day cure period could be circumvented.....»»

Legal sources close to Numetal said if the bids were rejected on commercial terms then the 30-day cure period could be circumvented.....»»

Amtek Auto is one of the 12 large insolvency cases which are undergoing insolvency resolution process with NCLT.....»»

ArcelorMittal may have to clear outstanding dues totalling Rs 70 billion, if it wishes lay its claim as an eligible bidder.....»»

ArcelorMittal is ready to pay Uttam Galva's debt. The company held a 29% stake in the steel company.....»»

Arcelor Mittal, one of the world's largest steel players, has nothing in India. It has sold its stake in Uttam Galva.....»»

In February, just before the first round of bidding for the steel company was opened, ArcelorMittal sold its stake in both Uttam Galva Steels and KSS to be eligible.....»»

The committee of creditors (CoC) in the Essar Steel resolution case considered giving ArcelorMittal and Numetal seven days to clear outstanding dues to become eligible......»»

The Committee of Creditors on May 2 had met representatives of ArcelorMittal and Numetal regarding their eligibility for Essar Steel and a decision is awaited.....»»

ArcelorMittal is in the race to acquire debt-laden Essar Steel which is undergoing insolvency proceedings.....»»

It was clear from initial reactions in Bengaluru and Delhi that the BJP was not interested in tying up with the JD(S) to form a government at any cost.....»»

Numetal and ArcelorMittal had moved the NCLAT against a previous order of the National Company Law Tribunal's (NCLT's) Ahmedabad bench.....»»

Biden Calls For Tripling Tariffs On Chinese Steel Ahead Of Speech In Swing State Of Pennsylvania The White House announced on Wednesday morning that President Biden will call for tripling tariffs on Chinese steel and aluminum in a speech.....»»

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“This is 100% Covid related. We’re not seeing the rates that we need to get back on our feet,” says AnujNarayan Mittal, CEO of Raleigh-based MJM Group. His hospitality group has an ownership stake in three hotels that have filed for bankruptcy protection......»»

See the rest of the story here. Theflyonthewall.com provides the latest financial news as it breaks. Known as a leader in market intelligence, The Fl.....»»

See the rest of the story here. Theflyonthewall.com provides the latest financial news as it breaks. Known as a leader in market intelligence, The Fl.....»»

New York Stock Exchange (NYSE) operator Intercontinental Exchange Inc (NYSE: ICE) has sold its 1.4% stake in cryptocurrency exchange Coinbase Global Inc (NASDAQ: COIN). read more.....»»

Cathie Wood-led Ark Investment Management on Monday snapped up 28,989 shares of the Canadian e-commerce company Shopify Inc (NYSE: SHOP), worth about $33.8 million, as the stock jumped ahead of its scheduled earnings report later this week. read more.....»»