NRI Billionaires
India-born business tycoons and families who are truly global!
India-born business tycoons and families who are truly global!
The global steel major looks to acquire bankrupt companies in India to expand its steel business.
The re-entry of the world’s largest steel player, ArcelorMittal, into the country will not only change the dynamics of the steel industry but also bring far greater innovation.
Battle to own the bankrupt Essar Steel enters its final leg after a year as the Committee of Creditors picks the world’s largest steelmaker as preferred bidder.
NCLAT says Numetal’s revised bid without Rewant Ruia as a partner is valid; gives time till Tuesday to ArcelorMittal to clear dues of companies where its promoter and the steelmaker held a stake.
The deadline for submission of financial bids for Essar Steel was more than a week ago. But it is still not clear whether either of the two bidders — ArcelorMittal and Numetal Ltd — will be successful.