SBI to sell Essar Steel's NPAs worth over Rs 15K cr to recover dues

The sale of the NPA account is to happen through e-auction on January 30, as per the bid invite. SBI plans to sell over Rs 15,000 crore worth bad loans belonging to Essar Steel to recover its dues......

Essar Steel bid: Trouble brews for ArcelorMittal

Seeking ArcelorMittal be declared ineligible to bid for Essar Steel, the petition cited Section 29A of the Insolvency and Bankruptcy Code which bars promoters of defaulting companies from bidding......

Ruias' bid to re-take Essar Steel hits NCLT wall

The Essar group hinted at challenging the verdict, citing last week's Supreme Court order that upheld the August 2018 amendment to the IBC law. The National Company Law Tribunal (NCLT) on Tuesday......

How ArcelorMittal became an eligible bidder for Essar Steel

Sources close to the development said a significant amount of around Rs 7,000 crore had been put into the SBI account with a proposal on escrow of the deposited funds. ArcelorMittal has......