Last month, Adani Enterprises had filed a plea in the Bombay High Court seeking quashing of all LRs against its firms that are under probe for alleged over-invoicing of Indonesian coal imports.

India's steel imports totaled $6.5 billion in 2017/18, according to official data.

Lessons from the failure of some of India's biggest business names.

While the overall salaries of employees grew at just 10 per cent a year, the honchos of these listed companies accounted for top-earning heads.

The Mittal-owned company told the SC it would lift the escrow on Rs 7,000 crore and pay the money owed by Uttam Galva and KSS Petron -- the defaulting companies in which the steel tycoon is classified as promoter -- if it gets to bid successfully for Essar Steel.

Numetal's first bid was rejected due to the 25% share owned by Rewant Ruia, the son of Essar Steel founder Ravi Ruia, since he was deemed a related party. JSW Steel bought out this contentious stake ahead of the second bidding round

World's largest steel producer ArcelorMittal on Monday offered Rs 42,000 crore to acquire Essar Steel Ltd, upstaging a Rs 37,000 crore bid by Russia's VTB Group-backed Numetal.

In its anti-dumping investigations, the Directorate General of Trade Remedies has stated that dumped imports of 'straight length bars and rods of alloy steel' from China have increased in absolute terms during 2016-17.

Numetal's first bid was rejected due to the 25% share owned by Rewant Ruia, the son of Essar Steel founder Ravi Ruia, since he was deemed a related party.

Reports say that both JSW and Tata look to submit bids for Usha Martin's 1 MT steel unit.

The steel stock rose nearly 3.50% to hit a fresh high of 378.70 on the BSE. The stock has been gaining for the last four days and has risen 10.46% during the same period. The stock has gained 51.77% during the last one year and 39% since the beginning of this year.

The Tribunal pushed back the deadline to August 13 on the plea of Tata Steel, which had been declared the highest bidder in July - for the second time

The top industrialists in the country have been quite reluctant in publicly voicing their concerns about the economy in all these years. The scene is changing now.

The National Company Law Tribunal (NCLT) gave its approval to the consortium of JSW Steel and AION Investments Private II Limited to acquire cash-strapped Monnet Ispat and Energy Limited on Thursday.

At a hearing before a two-member bench of the National Company Law Appellate Tribunal (NCLAT), senior lawyer Abhishek Manu Singhvi, appearing for ArcelorMittal, said \"NuMetal and Rewant Ruia are alter ego of each other. They both are the same.\"

Last week, JSW had said would invest $500 million to modernise its Ohio facility which it recently acquired as part of the Acero transaction. Earlier this year, the company had announced $500 million capex to modernise its Texas facility.

Under the Insolvency and Bankruptcy Code, the sale process has almost been completed in three cases -- Bhushan Steel, Electrosteel Steels and Monnet Ispat and Energy. There is less clarity in the other cases when the 270 day timeframe for resolution ends around now.