The top court put on hold the sale of Essar Steel and said the NCLAT order should not be given effect to as of nowThe court said it would resolve issues arising from the Essar verdict expeditiously and fix an early date for hearing the case
2 min read23 Jul 2019The pronouncement comes after NCLAT last week asked NCLT Ahmedabad to expedite the insolvency case filed against Essar Steel
2 min read7 Jan 2019Steel maker also commits to pay 7,000 crore to settle dues of Uttam Galva, KSS Petron
2 min read10 Sep 2018NCLAT has asked both Numetal and ArcelorMittal to file written submissions on their disqualification by Monday
2 min read18 Jul 2018The NCLAT also admitted cross appeals moved by ArcelorMittal and Numetal in the Essar Steel bidding process and listed them to be heard daily from 23 July
1 min read22 May 2018NCLT Ahmedabad had disqualified Numetal's bid for Essar Steel on the grounds that Rewant Ruia, son of Ravi Ruia, is a beneficiary of a trust that backed Aurora Enterprises, which in turn held about 25% stake in Numetal
1 min read11 May 2018The Committee of Creditors (CoC) on Wednesday had met representatives of ArcelorMittal and Numetal which are in the race to acquire Essar Steel regarding their eligibility and a decision is awaited
2 min read4 May 2018In other news, payments solutions provider AGS Transact Technologies has restarted work on its IPO, its third attempt to go public
3 min read24 Apr 2018ArcelorMittal and Numetal, which were finalists in the Essar Steel auction, were disqualified by the steelmaker's resolution professional
2 min read24 Apr 2018NCLT Ahmedabad has set aside Essar Steel IRP's decision to disqualify the first round of bidding and extended by a month the deadline for filing a debt resolution plan
3 min read21 Apr 2018The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared