Essar Group In Talks With ArcelorMittal For Deal On Power and Port Assets
20 Feb 2019
Essar Group has discussed the sale of its captive port and power plant in Hazira, Gujarat, for Rs 8,500-10,000 crore with ArcelorMittal.
NCLT Rejects Essar Steel Promoters' Plea To Repay Debt
29 Jan 2019
The Ahmedabad-bench of National Company Law Tribunal (NCLT) on Tuesday rejected Essar Steel promoter Ruia family's plea to repay debt, effectively scuttling the group's attempt to hold on to the company and boosting the chances of lenders selling it to a new owner, possibly ArcelorMittal. NCLT said in its verdict that there is no illegality from the lenders' side for not accepting Essar Steel promoters' plan.
Nippon Steel & Sumitomo Metal Corporation asset seizure approved
08 Jan 2019
A group of South Korean plaintiffs are pushing to seize the Korea-based assets of a Japanese steelmaker over Tokyo's policy of forcing Koreans to labor for little to no pay during its colonial rule of the Korean Peninsula.
In the latest developments, a court has approved seizure of Nippon Steel & Sumitomo Metal Corporation's assets.
Former Pakistan PM Nawaz Sharif sentenced to 7yrs imprisonment in Al-Azizia Steel Mills case
24 Dec 2018
An anti-corruption court in Pakistan on Monday sentenced ousted prime minister Nawaz Sharif to seven years in jail in the Al-Azizia Steel Mills graft case while acquitting him in the Flagship Investments corruption case in the high-profile Panama Papers scandal.
Supreme Court On Essar Steel Insolvency Case
04 Oct 2018
Supreme Court rules that both bidders ArcelorMittal and Numetal have to clear dues before being eligible to submit bids for Essar Steel
NCLT Rules in Favour of Tata Sons | Tata Sons vs Cyrus Mistry
09 Jul 2018
The National Companies Law Tribunal (NCLT) dismissed Cyrus Mistry's plea over his removal as Tata Sons chairman. The court stated that Mistry's conduct does not bode well for the smooth functioning of Tata Sons, as the former executive chairman allegedly leaked information to the media.
How Trump's claims that tariffs are needed for national security could set a problematic precedent
08 Mar 2018
President Trump's steep new tariffs signed into law on Thursday could lead to bigger trade battles in the months to come. Even before the announcement, 11 Asian Pacific nations signed a pact to slash tariffs on their mutual trade. Hari Sreenivasan and Peter Goodman from The New York Times discuss what this may mean for free trade going forward.