The Economic Times | A Times Internet Limited product
In a big setback to operational creditors of Essar Steel, SC today rejected their plea for a stay against Feb 11 NCLAT order which paves the way for Arcelor Mittal's buyout of Essar. ET NOW explains SC's major observations and tells how soon can the deal materialize..
The Economic Times | A Times Internet Limited product
In a big setback to operational creditors of Essar Steel, SC today rejected their plea for a stay against Feb 11 NCLAT order which paves the way for Arcelor Mittal's buyout of Essar. ET NOW explains SC's major observations and tells how soon can the deal materialize.
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The Economic Times | A Times Internet Limited product
In a setback to Ruia's, the Ahmedabad bench of the National Company Law Tribunal today has rejected the settlement offer by Essar Steel Ltd.’s promoters, the Ruia family. The ruling comes amid Arcelor Mittal's argument that Ruia's offer violated IBC. Essar Steel will now approach NCLAT. The tribunal also said that there is no illegality in decision taken by committee of creditors on selecting ArcelorMittal.
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बलात्कार के आरोप में जेल में बंद आसाराम बापू को सुप्रीम कोर्ट से बड़ा झटका लगा है। कोर्ट ने आसाराम की जमानत अर्जी खारिज कर दी है। इसके साथ ही फर्जी दस्तावेज़ जमा कराने को लेकर एफआईआर दर्ज करने का आदेश दे दिया। आसाराम ने मेडिकल के आधार पर अंतरिम जमानत की मांग की थी, लेकिन सुप्रीम कोर्ट ने कहा कि जांच रिपोर्ट से साफ है कि उनकी मेडिकल हालत ऐसी नहीं है कि उन्हें जमानत दिए जाने की जरूरत हो। साथ ही कोर्ट ने दायर की गई मेडिकल रिपोर्ट पर भी सवाल उठाए हैं। मुख्य न्यायाधीश न्यायमूर्ति जगदीश सिंह केहर और न्यायमूर्ति एनवी रमन ने एम्स के मेडिकल बोर्ड की एक रिपोर्ट के आधार पर आसाराम की जमानत याचिका खारिज कर दी। कोर्ट ने आसाराम द्वारा फर्जी मेडिकल दस्तावेज जमा कराने के मामले में नई एफआईआर दर्ज कराने के
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The Economic Times | A Times Internet Limited product
National Company Law Tribunal (NCLT) Amedabad bench today cleared ArcelorMittal's Rs 42,000 crore resolution plan for Essar Steel takeover. ArcelorMittal, which has been engaged in a drawn-out attempt to acquire Essar Steel since 2017, had made a Rs 42,000 crore offer for the bankrupt Essar steel.
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Watch ArcelorMittal bags Essar Steel as NCLT Ahmedabad clears Rs 42,000 cr takeover bid With HD Quality
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The National company Law Appellate Tribunal (NCLAT) Monday gave a conditional approval to Rs 42,000 crore resolution plan of ArcelorMittal for debt-ridden Essar Steel saying it will be subject to its final order in the appeal filed by the promoters. A two-member bench headed by Justice S J Mukhopadhaya said there is no stay on the Resolution Professional of Essar Steel to disburse the funds among financial and operational creditors of the company.
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Watch Race for Essar Steel- NCLAT gives conditional nod to ArcelorMittal's Rs 42k cr plan With HD Quality
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Supreme Court stays NCLAT order in Essar Steel case, says once commercial wisdom of CoC takes place, one can't act as resolution professional
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Watch Supreme Court stays NCLAT order in Essar Steel case With HD Quality
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The Supreme Court on Friday set aside the July 4 order of the NCLAT approving ArcelorMittal's Rs 42,000-crore bid for acquiring debt-laden Essar Steel. A bench headed by Justice RF Nariman quashed the NCLAT order which had given financial creditors equal status with operational creditors in the distribution of ArcelorMittal's bid amount. The bench clarified that financial creditors enjoy primacy and the adjudicating authority cannot interfere with the decision approved by the committee of creditors. ET's Karunjit Singh has more. (Text: PTI)
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Watch NCLAT's Essar Steel ruling set aside: Everything you need to know | Economic Times With HD Quality
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India's insolvency resolution framework has truly arrived after a tortuous journey of three years. Banks will finally be able to keep out unscrupulous promoters with the law establishing the primacy of financial lenders on asset proceeds. ET's Saloni Shukla reports. (Text: ET Bureau)
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Watch Essar Steel verdict: What's next for bankruptcy law? | Economic Times With HD Quality
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Finance Minister Arun Jaitley Thursday said Rs 80,000 crore has been recovered by creditors in 66 cases resolved by NCLT and around Rs 70,000 crore more is likely to be realised by March-end. Accusing the Congress of leaving behind a legacy of an 'anachronic system' of resolving commercial insolvency, Jaitley said the NDA government acted swiftly to recover the non-performing loans and legislated the insolvency and bankruptcy code (IBC). In a Facebook post titled 'Two years of Insolvency and Bankruptcy Code', Jaitley said NCLT has become a trusted forum of high credibility.
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The purpose of this channel is not to support or encourage underage drinking but to provide knowledge of the products we consume. This channel does not promote or sell any alcoholic product. The purpose of this channel is to strictly entertain and inform people about products available on the market. We are strictly against underage drinking and do not support it.
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