05
Sep
15:11
Essar to fight for ownership of steel unit
The Essar Group plans to regain control of ailing Essar Steel through the insolvency resolution process, according to Essar Capital director Prashant Ruia.
Last month the National Company Law Tribunal (NCLT) dissolved the Essar Steel board after the steelmaker was directed into insolvency proceedings by the Reserve Bank of India (RBI). The company owes lenders around INR 40,000 crore ($6.2 billion). Essar has opposed the insolvency because it was close to a…
This article contains premium data.
It is only available for active subscribers and clients currently
on trial. To continue reading, see the options below.
on trial. To continue reading, see the options below.
Truly global, user-friendly coverage of the steel and related markets and industry that delivers the essential information quickly while delivering on most occasions just the right amount of between-the-lines comment and interpretation for a near real time news service of this kind.
Anonymous
Very good overview of the weekly steel market.
Anonymous