Who is the owner of Uttam Steel?
Table of Contents
Who is the owner of Uttam Steel?
Uttam Galva Steels Ltd (UTTAMSTL) – Company Information
| COMPANY INFORMATION | |
|---|---|
| Chairman (Non-Executive) : | Rajinder Miglani |
| Non-Exec. & Independent Dir. : | Ravinder Arora |
| Non-Exec. & Independent Dir. : | Surendra Sharma |
| Non-Exec. & Independent Dir. : | Jagath Chandra |
What happened to Uttam Galva Steel?
On October 1, 2020, the tribunal admitted an insolvency petition against the debt-laden Uttam Galva Steels in a petition filed by the State Bank of India (SBI). The company had defaulted on its external commercial borrowing (ECB) facility extended by the bank to the tune of $6.6 million in November 2019.
Who acquired Uttam Galva?
ArcelorMittal
The LN Mittal-owned steelmaker formerly held 30% in Uttam Galva and is the only bidder for the company. Deutsche Bank has moved the National Company Law Tribunal (NCLT) to block ArcelorMittal’s ₹4,000-crore takeover of Uttam Galva Steels under the Insolvency and Bankruptcy Code (IBC).
What will happen to Uttam value shares?
Uttam Value Steels will be delisted from both the exchanges from Tuesday. The saga of retail equity investors drawing a blank in the regulatory actions and insolvency cases continues with Uttam Value Steels being the latest to join the infamous list.
Is UVSL share delisted?
Uttam Value Steels Ltd, was delisted citing NCLT order without payout to Retailers. We seek support from Investors, Business Magazines to fight against Company.
Is Uttam Steel a good buy?
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Uttam Galva Steels Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Will Uttam value steel be delisted?
Uttam Value Steels will be delisted from both the exchanges from Tuesday as per the resolution plan of US-based hedge fund CarVal Investors led consortium.
Will Uttam value steel be relisted?
Is Uttam value steel relisting?
What will happen to Uttam value Steel shares?
In its regulatory filing on NSE, the company stated that the security code UVSL will be suspended from trading w.e.f. November 23, 2020.
