ArcelorMittal has arranged the entire fund and is likely to transfer the amount by Monday; after the payment to the lenders, this will be the single-biggest recovery under the IBC

Shares of UCO Bank and Corporation Bank rallied up to 18 per cent in early deals on Friday amid reports that creditors to the bankrupt firm would receive payment soon

ArcelorMittal may see India as its base for markets in South Asia to export products. JSW is already aggressive in export markets

The court reiterated that in IBC, it is the CoC which has the ultimate authority over the matter concerning distribution of resolution proceeds

In December 2017, Steel Authority of India Ltd (SAIL) board had approved a proposal to enter into a JV with global steel giant ArcelorMittal for manufacturing high-end automotive steel

The non-bank financing giant Dewan Housing Finance Corp Ltd (DHFL) will go into insolvency proceedings, the central bank said on Wednesday, making it the first financial institution to test the new laws

The Essar verdict not only gives the single largest realisation from any asset to financial creditors, qualitatively also this is the biggest for the financial sector in getting their due rights and primacy in the scheme of things

President of Tata Steel's European works council Frits van Wieringen said it would take time to work out detail, but warned of 'a very serious confrontation in the Netherlands'

After completion, ArcelorMittal will jointly own and operate ESIL in partnership with Nippon Steel Corporation, Japan's largest steel producer

Tata Steel, which launched a transformation programme in June to strengthen its European business, has operations including steelmaking in the Netherlands and Wales

There will be no plant closures but the aim is to shield the company against the \"huge number of challenges\" it faces, the company said

The new management of Essar Steel may be headed by Aditya Mittal, who is the President and Chief Financial Officer of ArcelorMittal. He is also the CEO of ArcelorMittal Europe

The apex court reversed the order of NCLAT and reiterated that the secured financial creditors have primacy over operational creditors

Funds managed by Blackstone have invested Rs 1,750 crore in Ryka Commercial Ventures, the holding company of Future Lifestyle Fashion, through debentures

Kumar said India's pledges of contributions for operational activities of development for the year 2020 is to the tune of USD 13.5 million, in line with the country's long-standing tradition of supporting development activities across the UN system

Essar Steel case: The court stated that the NCLAT cannot interfere with the committee of creditors' commercial decisions

ArcelorMittal's South Africa says its Saldanha operations lost their competitive cost advantage to compete in the export market, \"mainly due to raw material and regulated prices\"

The gross debt of Tata Steel group increased 10.6 per cent to Rs 1.12 lakh crore in the first two quarters of this financial year. The net debt stood at Rs 1.07 lakh crore in September 2019