Tata Steel buys Usha Martin’s Steel division for Rs 6,600 crore. The business transfer agreement regarding the purchase is executed today. Tata Steel buys MTPA Plant, whether wire rope division stays with Usha Martin. Earlier five companies have shown interest in buying Usha Martin’s Steel business. JSW Steel, Tata Steel,[Read More…]
Tag: Vedanta
Thoothukudi plant not operating since March 27: Vedanta
Thoothukudi/Chennai: London-listed Vedanta Resources on Thursday said that its Sterlite copper smelter plant at Thoothukkudi district, whose closure has been accompanied by two days of rioting, arson and police firing, has not been operating since March 27, 2018. On Wednesday, the Tamil Nadu Pollution Control Board (TNPCB) ordered the closure[Read More…]
Electrosteel takeover: Lenders validate eligibility of Vedanta, Tata Steel
Kolkata: In a battle for taking over insolvent Electrosteel Steels, lenders to the steel producer on Thursday decided to go ahead with Vedanta, rejecting objections raised by the Renaissance Steel on the eligibility of the former to bid for the debt-laden company. The Kolkata bench of the National Company Law Tribunal[Read More…]
Setback for Vedanta as Supreme Court rejects iron ore export plea
The Supreme Court on Thursday quashed Vedanta Ltd’s plea seeking export of iron ore in Karnataka. Ruling that “there is no need to allow the export of iron ore for now,” the apex court heard the plea filed by the Karnataka Iron and Steel Manufacturers’ Association. The plea sought court’s intervention[Read More…]