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Total 42 results found. Search for [ Rewant Ruia ]

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BusinessToday.In
New Delhi, October 17, 2018
Of the total amount of Rs 4,500 crore, the amount calculated for Uttam Galva is Rs 3,987 crore and Rs 567 crore for KSS Petron, however this does not include the penal interest or other charges.


Nevin John
New Delhi, October 17, 2018
The Supreme Court recently asked two lead bidders, Numetal consortium and ArcelorMittal to pay off their dues to qualify for Essar bidding.


BusinessToday.In
New Delhi, October 10, 2018
MV Seshagiri Rao, joint managing director, JSW Steel, yesterday said that the company was seeking legal opinion on whether it would be eligible to bid for Essar Steel together with contenders that had already thrown their hats in the ring: ArcelorMittal, Numetal and Vedanta.


BusinessToday.in
New Delhi, October 4, 2018
The Supreme Court allowed ArcelorMittal and Numetal to submit fresh bids for Essar Steel provided they clear their NPA dues in two weeks.


PTI
New Delhi, September 25, 2018
It has been alleged that ArcelorMittal had 32 and 29 per cent stakes in KSS Petron and Uttam Galva respectively and it had exited from them after selling the stakes before submitting the resolution plan to take over the Essar Steel.


BusinessToday.In
New Delhi, September 14, 2018
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.


BusinessToday.In
New Delhi, September 11, 2018
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


PTI
September 10, 2018
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.


BusinessToday.In
New Delhi, September 7, 2018
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.


PTI
New Delhi, July 5, 2018
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.\"


Nevin John
New Delhi, June 16, 2018
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.


BusinessToday.In
May 16, 2018
Last week, Essar Steel's Committee of Creditors (CoC) told both suitors, ArcelorMittal and Numetal, that their bids would only be considered if they repaid all pending dues owed by people/entities connected to them within a week.


Nevin John
New Delhi, May 2, 2018
Its now largely up to the court to facilitate the sale of Essar Steel.


Nevin John
New Delhi, April 25, 2018
The new round of bid will see larger bids since it will be the last chance to win the battle. In addition, the bids may go up the size of over Rs 35,000 crore, when Essar's loans stands at around Rs 45,000 crore. 


PTI
April 24, 2018



Nevin John
April 20, 2018
It's tough to conclude the resolution process in at least half of the 12 big loan defaulters within the 270 days time frame allowed under the Insolvency and Bankruptcy Code (IBC).


BusinessToday.In
New Delhi, April 20, 2018
Both the petitioners, Numetal and ArcelorMittal, welcomed the verdict for the prize is a big one, despite the fact that Essar Steel boasts the third biggest debt pile (over Rs 44,000 crore) among the initial 12 companies identified by the RBI for insolvency proceedings.


Nevin John
New Delhi, April 5, 2018
After the submission of bids for Essar Steel on Monday, ArcelorMittal and its partner Nippon Steel questioned the inclusion of Sajjan Jindal's JSW Steel in the Numetal consortium.


PTI
April 4, 2018



Mail Today Bureau
April 3, 2018
In the first round, NuMetal and ArcelorMittal were the only two parties that had bid to take over Essar Steel but the insolvency resolution professional overseeing the auction was advised to reject both the bids owing to their promoters being linked to defaulter companies.


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