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Insolvency law aims at saving promoters not banishing them: FM

Finance Minister Arun Jaitley today assured debt-laden companies that the objective of the new insolvency law is not to banish them but to save them while ensuring that "debts are serviced". "The..
Deccan Herald

SC restrains Essar Steel from using 2.76 lakh sq m of Surat 'forest' land

Firm Accused Of Grabbing Land Near Surat
IndiaTimes

ArcelorMittal keen to spread wings in India

ArcelorMittal could be interested in Bhushan Steel or Essar Steel, two of the five steel companies referred by RBI for insolvency proceedings.
Rediff.com

Bankers review progress of 12 large NPA accounts

The 12 accounts were- Essar Steel, Bhushan Steel, Electrosteel Steels, Amtek Auto, Bhusan Power and Steel, Alok Industries, Monnet Ispat and Lanco Infra, Era Infra, Jaypee Infratech, ABG Shipyard and..
IndiaTimes Also reported by •DNA

Ruias strike complex royalty deal with new owners of Essar Oil

The Essar-Rosneft deal is believed to be in the final stage. With Essar Oil about to change hands, Ruias are keen to retain their hold on Essar Steel.
IndiaTimes

FM introduces bill to replace Banking Regulation Ordinance

A bill to authorise the RBI to direct banking companies to resolve the problem of stressed assets was today introduced in the Lok Sabha by Finance Minister Arun Jaitley. The Banking Regulation..
Deccan Herald

JSW to revise bid for Monnet, Essar steel not ruled out

JSW Group today said it is putting a revised offer for Monnet Ispat, which has been admitted at the National Company Law Tribunal and is facing bankruptcy proceedings.
DNA

NCLT allows Essar Steel to file objections to SBI, SCB pleas

The National Company Law Tribunal (NCLT) today allowed Essar Steel to file objections to petitions moved by the State Bank of India (SBI) and the Standard Chartered Bank (SCB) to initiate insolvency..
DNA

Insolvency proceedings to begin against Essar Steel

Gujarat High Court junks company's plea against RBI initiative
DNA

Banks can move NCLT against Essar Steel

Gujarat High Court clears insolvency proceedings against steel company; ask central bank not to give directions to judicial authorities
DNA

HC refuses to stay Rs 45k cr Essar Steel insolvency case


IndiaTimes

Gujarat High Court junks Essar Steel plea against RBI's insolvency order

With debt of over Rs 45,000 crore, lenders should be allowed to have their discretion to take legal steps to recover the amount.
DNA

Warranted time to complete debt restructuring: Essar Steel

With the Gujarat High Court dismissing Essar Steel's plea against RBI's insolvency order, the company today said it should have been given time to complete its debt restructuring.
DNA

HC rejects Essar Steel's plea on insolvency

The Gujarat High Court on Monday dismissed Essar Steel's writ petition challenging the insolvency proceedings brought against it by a consortium of banks on RBI directives. The RBI directed the..
Deccan Herald

DNA Evening reads: Prez Polls; a cop transferred for doing her job; Didi talks tough and more

-*DIG Roopa, who exposed VVIP treatment to Sasikala, transferred*- Less than a week after Bengaluru's Deputy Inspector General (Prisons) Roopa D Moudgil alleged special treatment in jail to AIADMK..
DNA

Gujarat HC rejects Essar Steel's plea against RBI circular on corporate bad loans

Major win for Centre.
DNA

Gujarat HC dismisses Essar Steel appeal against bankruptcy proceedings

The ruling is a boost to the government, which in May tweaked Indian banking laws to empower the Reserve Bank of India (RBI) to tackle the country's bad debt issue, allowing the RBI for the first time..
IndiaTimes Also reported by •Reuters IndiaSify

BRIEF-India's Gujarat High Court dismisses Essar Steel's petition against RBI - TVs

July 17 (Reuters) -
Sify


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