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  • ArcelorMittal, Nippon Steel sign $5.15 billion loan pact to refinance Essar Steel buy Mar 17, 2020 12:30 PM IST

    ArcelorMittal, Nippon Steel sign $5.15 billion loan pact to refinance Essar Steel buy

    The 10-year-term loan would be used to refinance their acquisition of Essar Steel India, now known as ArcelorMittal Nippon Steel India Ltd.

  • India's Essar Steel seeks 36 LNG cargoes for 2021-2023 delivery: Sources Feb 04, 2020 02:20 PM IST

    India's Essar Steel seeks 36 LNG cargoes for 2021-2023 delivery: Sources

    This is likely a reissue of an earlier tender by the company in November last year for the same volumes and delivery period, a second source said, though this could not immediately be confirmed.

  • Essar Steel deal done, ArcelorMittal and Nippon Steel set targets for the renamed entity Jan 08, 2020 04:19 PM IST

    Essar Steel deal done, ArcelorMittal and Nippon Steel set targets for the renamed entity

    A major focus area for the two partners would be research and development. ArcelorMittal invests $300 million a year into R&D, and its partner has put in about $2 billion in last three years in research and innovation.

  • Weekly Tactical Pick – SBI Dec 27, 2019 09:04 AM IST

    Weekly Tactical Pick – SBI

    India's largest bank stands out because of its sheer size and better operating performance among PSBs

  • ArcelorMittal completes acquisition of Essar Steel Dec 16, 2019 05:47 PM IST

    ArcelorMittal completes acquisition of Essar Steel

    According to a release, the company has also established a joint venture with Nippon Steel called ArcelorMittal Nippon Steel India (AM/NS India), which will own and operate Essar Steel.

  • Essar Steel resolution to boost Q3 number: SBI chief Rajnish Kumar Dec 16, 2019 01:02 PM IST

    Essar Steel resolution to boost Q3 number: SBI chief Rajnish Kumar

    "For MSMEs, I think the Insolvency and Bankruptcy Code (IBC) is not the right route. It is more for the bigger corporates. MSMEs should have a rehabilitation...we are not in favour to take them to the NCLT because it will burden the system unnecessarily," Kumar said.

  • ArcelorMittal initiates Rs 42,000 cr payment for Essar Steel acquisition: Report Dec 14, 2019 08:28 AM IST

    ArcelorMittal initiates Rs 42,000 cr payment for Essar Steel acquisition: Report

    As per a source privy to the development, ArcelorMittal has arranged the entire fund and is likely to transfer the amount by December 16.

  • ArcelorMittal aims to complete Essar Steel acquisition by 2019-end Nov 19, 2019 10:36 AM IST

    ArcelorMittal aims to complete Essar Steel acquisition by 2019-end

    ArcelorMittal India Private Limited's (AMIPL) resolution plan for Essar Steel India Limited (‘ESIL') has been unconditionally approved by the Supreme Court of India and the approval of AMIPL's resolution plan is the final procedural step in ESIL's corporate insolvency process, the company said in a statement.

  • Supreme Court's Essar Steel order puts banks back on top in IBC Nov 19, 2019 08:59 AM IST

    Supreme Court's Essar Steel order puts banks back on top in IBC

    The NCLAT’s order had upset the premier position of financial creditors in the resolution process. The SC has restored their position

  • MC Special podcast | Essar Steel verdict: Decoding fine print for lenders, stressed companies and bidders Nov 18, 2019 09:19 PM IST

    MC Special podcast | Essar Steel verdict: Decoding fine print for lenders, stressed companies and bidders

    Jerome Anthony gets in conversation with Nilang Desai, Partner at law firm AZB & Partners and Deputy Editor (Deals) Ashwin Mohan, who decode the fine print of the SC verdict in the Essar Steel case.

  • Why ArcelorMittal should take its IBC prize Essar Steel public | Corporate Corridor Nov 18, 2019 10:48 AM IST

    Why ArcelorMittal should take its IBC prize Essar Steel public | Corporate Corridor

    Essar Steel is a feather in ArcelorMittal’s cap but it has its task cut out and its balance sheet will feel the strain of the acquisition

  • Banking wrap: Lenders cheer SC ruling in Essar Steel case; Indian banks add bad loans of Rs 1 lakh cr in H1FY20 Nov 17, 2019 01:29 PM IST

    Banking wrap: Lenders cheer SC ruling in Essar Steel case; Indian banks add bad loans of Rs 1 lakh cr in H1FY20

    Banking wrap: Union Bank of India sees credit pick up in H2, pares credit growth target to 7-9%; Indian banks add bad loans of Rs 1 lakh crore in H1FY20 and more

  • SC order on Essar Steel to bring certainty to resolution process in line with global practices: Ficci Nov 16, 2019 04:30 PM IST

    SC order on Essar Steel to bring certainty to resolution process in line with global practices: Ficci

    The Supreme Court on Friday set aside an NCLAT order which gave equal rights to the secured and unsecured creditors during the insolvency proceedings of debt-ridden Essar Steel, clearing the decks for its takeover by Lakshmi Mittal-led ArcelorMittal.

  • Corporate Buzz podcast | Essar Steel verdict; more trouble for Vodafone Idea and Airtel; and the Singh brothers saga Nov 15, 2019 07:59 PM IST

    Corporate Buzz podcast | Essar Steel verdict; more trouble for Vodafone Idea and Airtel; and the Singh brothers saga

    Moneycontrol's Jerome Anthony talks to Corporate Bureau Chief Prince Thomas to find out the top developments in the corporate world.

  • Editor's Take | Essar Steel Insolvency: SC verdict a win for banks Nov 15, 2019 05:53 PM IST

    Editor's Take | Essar Steel Insolvency: SC verdict a win for banks

    Moneycontrol's Shraddha Sharma talks to Prince Thomas to understand the SC judgement

  • Finally for LN Mittal, the road to India is clear Nov 15, 2019 03:44 PM IST

    Finally for LN Mittal, the road to India is clear

    The Indian steel market, despite its recent sluggishness, is among the fastest growing in the world. India, which overtook Japan last year as the world's second largest steel producer, now produces 106 million tonnes of steel, second only to China's 928 million tonnes.

  • Essar Steel case: Banks cheer SC ruling, expect faster resolution in other cases Nov 15, 2019 02:29 PM IST

    Essar Steel case: Banks cheer SC ruling, expect faster resolution in other cases

    Lenders have been grappling under the burden of aging provisions due to prolonged delay in the resolution of non-performing assets under the Insolvency and Bankruptcy Code.

  • Govt’s new 330-day deadline may not ease resolution bottlenecks Jul 29, 2019 10:19 AM IST

    Govt’s new 330-day deadline may not ease resolution bottlenecks

  • Proposed insolvency law amendments credit positive for banks: Moody's Jul 25, 2019 02:55 PM IST

    Proposed insolvency law amendments credit positive for banks: Moody's

    The rating agency said cases in the IBC have taken much longer to resolve than the originally envisaged 270 days, in large part because concerned parties have repeatedly appealed to higher courts.

  • Essar Steel: Parity with operational creditors a huge disincentive, says SBI Chairman Jul 10, 2019 10:26 PM IST

    Essar Steel: Parity with operational creditors a huge disincentive, says SBI Chairman

    While lenders are gearing up to challenge NCLAT's ruling in Supreme Court, there is hope that amendments will be made in the IBC law to ensure faster resolutions in future.

  • Ruchi Soya: Resolution may be delayed as NCLT wants to study impact of revised NLCAT order on Essar Steel Jul 09, 2019 07:35 PM IST

    Ruchi Soya: Resolution may be delayed as NCLT wants to study impact of revised NLCAT order on Essar Steel

    The tribunal observed that the NCLAT order has changed the entire outcome for all stakeholders and is like a formula with clear-cut directions on the distribution of the proceeds should be carried out.

  • ArcelorMittal-Essar Steel: Takeaways for investors and the IBC process Jul 08, 2019 08:23 AM IST

    ArcelorMittal-Essar Steel: Takeaways for investors and the IBC process

    Under the new resolution plan, banks will have to take a haircut of around 40 percent

  • As JV talks with ArcelorMittal face delay, SAIL starts looking for options Jun 02, 2019 01:28 PM IST

    As JV talks with ArcelorMittal face delay, SAIL starts looking for options

    Essar Steel is undergoing insolvency proceedings.

  • ArcelorMittal, Resurgent Power may put in joint bid for Essar Power's plant May 28, 2019 01:43 PM IST

    ArcelorMittal, Resurgent Power may put in joint bid for Essar Power's plant

    ArcelorMittal had previously submitted a non-binding offer of Rs 4,800 crore for the same asset.

  • NCLAT reserves order on ArcelorMittal takeover of Essar Steel May 21, 2019 05:24 PM IST

    NCLAT reserves order on ArcelorMittal takeover of Essar Steel

    A two-member bench headed by Chairman Justice S J Mukhopadhaya asked all parties, including ArcelorMittal, to file their written submissions over their submissions by May 22.

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