Sat, Nov 16, 2019
Delivering a big verdict, the Supreme Court has allowed ArcelorMittal to make payment for Essar Steel India, paving the way for acquisition of the bankrupt steel maker by the Luxembourg-headquartered entity.
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Fri, Nov 15, 2019
In Essar Steel case, the Supreme Court's verdict in banks' favour. Watch this video to find out more.
Know how the Supreme Court's 'Essar Steel Verdict' will change the rules for future bankruptcy cases in Insolvency and Bankruptcy Code, 2016. Watch this video to find out more.
Mon, Jul 17, 2017
After Gujarat High Court dismissed Essar Steel's petition, the company in a statement highlighted observations made by the court.
Sat, Jul 15, 2017
A single bench judge bench of Justice S.G. Shah is hearing a petition filed by the steel major on July 4 seeking quashing of insolvency proceedings, claiming that the action was unilaterally initiated without giving it a hearing at a time when the company was in a major restructuring mode.
Sun, Jul 09, 2017
RBI had said it has identified 12 accounts for insolvency proceedings with each of them having over Rs 5,000 crore of outstanding loans accounting for 25 per cent of total NPAs of banks.
Sat, Jul 08, 2017
The ministry has been asking banks to take tough action against such borrowers and be ready to fight court cases as well.
Wed, Jul 05, 2017
According to the norms, once the case is with the NCLT, the lenders or the banks need to set up a committee of creditors that will come up with a plan on how the asset will be tackled.
Fri, Jun 30, 2017
Viral Acharya incharge of monetary policy making said till now, the banks have neglected the crucial aspect of provisions against the expected losses which have resulted in lack of success in earlier resolution attempts.
Thu, Jun 29, 2017
"We will look at all those assets which are stressed from an opportunity point of view and as long as they are value-accretive to shareholders," JSW Steel chairman and managing Director Sajjan Jindal told reporters on the sidelines of the company's annual general meeting here.
Mon, Oct 17, 2016
Reportedly, in the all-cash deal, it also includes Vadinar refinery and Vadinar Port in Gujarat.
Mon, Oct 03, 2016
Essar Steel is saddled with Rs 44,000 crore debt from a consortium of 20 lenders.
Mon, Jul 25, 2016
Essar Bulk Terminal will expand its bulk cargo handling capacity at Hazira Port in Gujarat state to 50 million metric tonnes per annum (MMTPA) from existing 30 MMTPA by December 2016 at an investment of Rs 750 crore.
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![50% provisions for IBC accounts "very reasonable": RBI's Acharya](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_160x90/public/2017/06/30/21121-viral-acharya-youtube.png?itok=9FbrQXJA&c=22a12e4955a45ac46b05732047323c73 "50% provisions for IBC accounts "very reasonable": RBI's Acharya")
