Leading integrated steel manufacturer JSW Steel is looking at inorganic growth in both domestic and international markets as well as organic growth, to steer the company on its growth path, company chairman and managing director Sajjan Jindal said.
Lenders to Essar Steel today urged the NCLAT to complete its insolvency resolution process in "quick" time, saying the debt-ridden company is incurring a daily loss of Rs 17 crore.
ArcelorMittal today said it was eligible under the Insolvency & Bankruptcy Code to bid for Essar Steel as it was not a promotor of Uttam Galva and KKS Petron, and had already offloaded its shares before submission of the bids.
India's crude steel output grew six per cent to 26 million tonne (MT) in the first quarter of the ongoing financial year, according to official data.
Locked in a direct fight to acquire Essar Steel, ArcelorMittal today sought disqualification of Russia's VTB Capital-backed NuMetal Ltd, alleging that the firm was acting in concert with delinquent promoters of Essar group.
NCLAT adjourned till July 2 the hearing over the appeals filed by Essar Steel resolution applicants NuMetal and Arcelor Mittal.
The board of ICICI Bank has ordered an independent probe into allegations of 'conflict of interest' and 'quid pro quo' in bank's MD and CEO Chanda Kochhar's dealing with certain borrowers.
Essar Steel lenders have moved NCLAT seeking an early hearing of appeals filed by suitors for the insolvency-bound firm.
NCLAT has directed the resolution professional, committee of creditors and NCLT not to pass any order in the matter related to insolvency resolution of Essar Steel.
NuMetal told NCLAT it has offered over Rs 37,000 cr for Essar Steel in second-round of bidding, which should be opened and the highest bidder be selected from it.