Group items tagged

Bhushan Steel was acquired by Tata Steel Ltd through IBC route and later on renamed it to Tata Steel BSL Ltd. Analysis of impact of the resolution plan on its financial and other stakeholders is carried out through this article

Tata Steel has acquired Bhushan Steel (BSL) through its wholly-owned subsidiary Bamnipal Steel Ltd (BNL) through a resolution under the Insolvency and Bankruptcy Code (IBC).

Arcelor Mittal finally acquires Essar steel through IBC after Supreme Court judgement in their favour. In this article we cover various legal hurdles/ challenges arise due to NCLAT order and how supreme court dealt with it.

With this acquisition, JSW Steel will have successfully acquired three stressed assets through bankruptcy court-one being Monnet Ispat and Energy Ltd, Vardhman Industries and now ACCIL( Asian Colour Coated Ispat Limited).

Marking an entry into India, Sanjeev Gupta-led Gupta Family Group (GFG) Alliance, which owns Liberty House, has acquired bankrupt Adhunik Metaliks and Zion Steel for Rs 425 crore, which was under the Insolvency and Bankruptcy Code. It was an all-cash deal. In fact, Liberty House had failed to complete Adhunik's acquisition in its first attempt. It was given a second chance by the National Company Law Appellate Tribunal to take over the bankrupt steel mill.

SMIORE is consolidating its business by merging its subsidiary SMPPL which has provided its ferroalloy plant and power plant on lease to the company. Commercial reason to get benefits of consolidation and as a result able to execute projects relating to steel manufacturing is no doubt seems justifiable.

To simplify its corporate structure and segregate the steel and paint business, Kamdhenu Limited has decided to demerge the paint business for reasons not clear as a subsidiary of shell listed holding company and amalgamate the group companies into one.