Uttam Galva Steels News and Updates

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30 Nov 2017, 01:12AM

ArcelorMittal makes strong pitch as eligible bidder

Business Standard

ArcelorMittal, the world's largest maker of steel, has made a strong pitch as an eligible bidder for distressed assets currently going through insolvency resolution.It issued a statement that recent amendments to the Insolvency and Bankruptcy Code were intended to prevent defaulting promoters from buying the same assets out of bankruptcy."We are a widely recognised and highly creditworthy international investor and do not believe this amendment should prevent ArcelorMittal from bidding for distressed steel assets in which we have had no prior involvement," went the statement.It also clarified, "We hold a non-controlling minority shareholding in Uttam Galva, have no representation on the board of directors, nor influence on management decisions. As such, we are not a promoter of Uttam Galva. Therefore, there is no objective reason for ArcelorMittal to be prevented from bidding for any steel asset under the restructuring process."The statement follows doubts raised regarding its bid...

Uttam Galva Steels Ltd.

25 Nov 2017

ArcelorMittal's bid for steel firms in trouble

Business Standard

In 2009, ArcelorMittal had picked up a stake in Uttam Galva Steels

Uttam Galva Steels Ltd.

25 Jun 2017

Uttam Galva Steels plans to reduce risk as it faces insolvency proceedings

Business Standard

A supplier, DF Deutsche Forfait, had filed insolvency proceedings against it at NCLT

Uttam Galva Steels Ltd.

03 Apr 2017

AION offers to recast Uttam Galva Steels' debt

livemint

AION has proposed that Rs1,200 crore remain as bank loans on the company's books and outstanding loans of Rs4,300 crore be converted

Uttam Galva Steels Ltd.

02 Dec 2016

Corporate defaulters may lose much protection under new code

Economic Times

Cases listed before the panel include those of Uttam Galva, Zenith Computer, Moser Baer, Lilliput Kidswear and Avaya Industries, among a list of more than hundred cases.

Uttam Galva Steels Ltd.

17 Aug 2016

China's Tidfore to pick up stake in Uttam Galva Metallics

Business Standard

Agreement was signed last week in China in presence of Sun Yin Sheng, secretary, Hunan State, senior officials of Posco and State Bank of India

China's Tidfore to pick up stake in Uttam Galva

Business Standard | 18 Aug 2016

Uttam Galva Steels Ltd.

16 Jul 2016

Posco offers lifeline to Uttam Galva promoters

Business Standard

China's Tidfore may pick stake in three-way venture

Uttam Galva Steels Ltd.

30 Jun 2016, 10:09AM

Uttam Galva soars on possible sale of company

Economic Times

Reacting to the development, the scrip gained 20 per cent to hit a high of Rs 35.25 on the BSE. The stock has climbed 2 per cent in the year so far through June 30.