Free Press Journal
  • ArcelorMittal sweetens Essar bid to Rs 42K-cr

    Mumbai : Steel giant ArcelorMittal on Monday offered Rs 42,000 crore to acquire Essar Steel, upstaging a Rs 37,000 crore bid by Russia’s VTB Group-backed Numetal, sources with direct knowledge of the development said.

  • NuMetal’s Essar Steel bid gets NCLAT thumbs-up

    New Delhi : The National Company Law Appellate Tribunal (NCLAT) on Friday ruled that Russia’s VTB Capital-backed NuMetal’s second bid for Essar Steel is eligible but the same by ArcelorMittal will qualify only if it clears the Rs 7,000 crore dues of firms it was previously associated within three days.

  • NCLAT seeks details of Walmart-Flipkart’s biz model in India 

    New Delhi : The National Company Law Appellate Tribunal (NCLAT) has asked US retail major Walmart and e-commerce major Flipkart to explain their way of doing business in India. NCLAT, which is also an appellate authority over the Competition Commission of India (CCI), has asked Walmart International Holdings to file its reply before it by September 20, 2018.

  • NCLAT stays Jyoti Structures liquidation

    New Delhi : The National Company Law Appellate Tribunal (NCLAT) has stayed the liquidation of debt-ridden real estate firm Jyoti Structures and barred any sale of its assets till further orders.

  • JSW Steel leads race to buy Bhushan Power 

    New Delhi : JSW Steel has pipped Tata Steel at the post to emerge as the highest bidder for the stressed Bhushan Power and Steel.

  • NCLAT reserves order over Mistry’s plea against Tatas

    New Delhi : The National Company Law Appellate Tribunal (NCLAT) on Tuesday reserved its order over a plea of Cyrus Mistry camp seeking a status quo over conversion of Tata Sons into a private company from a public limited firm.

  • NCLAT upholds Bhushan takeover by Tata Steel

    New Delhi : The National Company Law Appellate Tribunal (NCLAT) on Friday upheld the sale of Bhushan Steel to Tata Steel, rejecting allegations of its ineligibility by the promoters of the debt-ridden firm.

  • Companies get 1 more week to submit revised bid for Bhushan Power

    New Delhi : The National Company Law Appellate Tribunal (NCLAT) on Monday extended the deadline for submission of revised bids for debt-ridden Bhushan Power and Steel by one week on the plea of Tata Steel, a resolution applicant in this.

  • Mistry moves NCLAT against Tata Sons

    New Delhi : Ousted Tata Sons chairman Cyrus Mistry on Friday approached the National Company Law Appellate Tribunal (NCLAT) against the order of NCLT dismissing his plea challenging his removal as chairman of the company. A petition was filed before the appellate tribunal against the July 9 order of the Mumbai bench of the NCLT.

  • Firm to challenge NCLAT order on Bhushan Steel

    New Delhi : Tata Steel on Friday moved the Supreme Court against the order of the National Company Law Appellate Tribunal that allowed bidders to revise their bids for Bhushan Power and Steel.

  • Arcelor Mittal to NCLAT: It is eligible to bid for Essar Steel

    New Delhi : Arcelor Mittal said it was eligible under the Insolvency & Bankruptcy Code to bid for Essar Steel as it was not a promotor of Uttam Galva and KKS Petron, and had already offloaded its shares before submission of the bids.

  • NuMetal alter ego of Ruias: ArcelorMittal

    New Delhi : Locked in a direct fight to acquire Essar Steel, ArcelorMittal on Thursday sought disqualification of Russia’s VTB Capital-backed NuMetal, alleging that the firm was acting in concert with delinquent promoters of Essar group.

  • Reliance Communications shares in demand; soar 20%

    New Delhi: Shares of Reliance Communications (RCom) today surged 20 per cent, a day after NCLAT stayed bankruptcy proceedings against the company after it agreed to pay Rs 550 crore to Ericsson to settle a payment dispute. The stock jumped 19.14 per cent to Rs 20.85 on BSE.

  • NCLAT asks Tata Steel if it will pay dues of Bhushan Steel

    New Delhi: The company law appellate tribunal today asked Tata Steel if it will clear the statutory dues like income tax and GST of Bhushan Steel, a company it had acquired in the insolvency proceedings earlier this month. The National Company Law Appellate Tribunal (NCLAT), hearing appeals against the acquisition filed by Bhushan Steel’s founding Singal family and the firm’s operational creditor Larsen and Toubro, asked Tata Steel to submit a statement

  • RCom offers to pay Ericsson Rs 500 cr to settle dispute

    New Delhi : Reliance Communications (RCom) on Tuesday offered an upfront payment of Rs 500 crore to its operational creditor Ericsson, which has got an insolvency order against the Anil Ambani group firm.

  • Essar lenders seek early hearing of pleas

    New Delhi : Essar Steel lenders have moved the National Company Law Appellate Tribunal seeking an early hearing of appeals filed by suitors for the insolvency-bound firm, saying they are losing a lot of money because of the delays.

  • Jaypee Infra’s 700-acre land to remain with banks for now

    New Delhi : The National Company Law Appellate Tribunal on Thursday admitted an appeal moved by ICICI Bank, Axis Bank and others challenging an order passed by the Allahabad bench of the National Company Law Tribunal directing Jaiprakash Associates to return over 700 acres of land to its subsidiary Jaypee Infratech.

  • Bhushan seeks 90 days extension to file results

    New Delhi : Debt-ridden Bhushan Steel has sought 90 days extension to file its audited financial results for the quarter and year ended March 31, 2018. Tata Steel completed the acquisition of controlling stake of 72.65 per cent in the debt-laden firm last week.  As per regulatory norms, the company is under obligation to submit its audited financial results for quarter and year ended March 31, 2018 within 60 days from the