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7 per cent of their admitted claims of Rs 49,473 crore.7 per cent of their claims.The NCLAT also observed that this matter was related to insolvency of Essar Steel India and is not related to Odisha Slurry Pipeline Infrastructure Limited, a concerned raised by Standard Chartered Bank and others during the hearing. Prashant Ruia and Intervenor - &China hexagon socket wood screw39;Essar Steel Asia Holdings Limited' deserves to be rejected."The tribunal observed that financial creditors whose claims are less than Rs 1 crore will get 100 per cent of their claims whereas other financial creditors will get 60. It had granted a loan of USD 500,000,000 (around Rs 3,427 crore at current exchange rates) to Essar Steel Offshore, a step down firm.New Delhi: The NCLAT on Thursday approved steel tycoon Lakshmi Mittal-led ArcelorMittal's Rs 42,000 crore bid for the acquisition of Essar Steel after it rejected a plea by the lead shareholder of the debt-laden firm challenging the eligibility of the bidder."While financial creditors may choose to appeal against the ruling in the Supreme Court, an Essar Steel spokesperson said, "It appears that new facts regarding ineligibility under Section 29A which emerged only after the previous judgement of the Supreme Court, have not been given due consideration.

We are awaiting the detailed order and decide our course of action thereafter.7 per cent of its total claims of Rs 3,487.The NCLAT said financial creditors will get 60. Essar Steel director Prashant Ruia had challenged that order saying ArcelorMittal was ineligible to bid under Section 29A of the Insolvency and Bankruptcy Code as it was associated with delinquent or loan defaulting firms.The NCLAT said financial creditors will get 60.Moreover, it observed that the amount of profit generated by Essar Steel during the corporate insolvency resolution process (CIRP) cannot be given to the successful resolution applicant ArcelorMittal as it has not invested any money."We have distributed all claims among financial creditors including Standard Chartered based on 60.26 per cent. We need to review the full written order to understand any implications on completion of the transaction.ArcelorMittal countered this saying the plea was one of the multiple mala fide attempts to derail the corporate insolvency resolution process and Ruia had no locus standi as his resolution plan was disallowed.

India remained a net importer of steel during April-November after exports dropped over 30 per cent.Carmakers continue to rely on imports because they say local steel companies are unable to match the quality, consistency and price, three company sources said.Carmakers continue to rely on imports because they say local steel companies are unable to match the quality.Despite the warning from the auto industry, the steel ministry is unlikely to back down, three sources with direct knowledge of the matter told Reuters.The steel ministry has already granted a two-month exemption to carmakers on new quality control rules for imports which were originally due to come into effect on Dec 18.India remained a net importer of steel during April-November after exports dropped over 30 per cent.

The auto industry will, however, face disruption if the import of some of these crucial steel products comes to a standstill, Vinnie Mehta, director general at the Automotive Component Manufacturers Association of India, told Reuters.The letter and the internal discussions at the steel ministry have not been previously reported.IMPORTS RISEThe steel ministry’s push is the latest from Modi’s administration which is desperate to check imports and show the success of its manufacturing programme, aimed at building a domestic industrial base and boosting jobs and growth.India’s auto industry, which includes companies such as Maruti Suzuki, Hyundai Motor Co, Honda Motor Co and Ford Motor Co, is staring at production stoppages if new tougher rules on steel imports are not relaxed, a federal minister warned in a letter.There are fears that other carmakers will do the same, which will hurt local manufacturing China din571 hexagonal wood screw stainless steel factory and jobs, he said.

” The modified stove costs only `80 extra which is basically just the cost of the grill, said Dr Singh. This also includes adivasi areas in Thane, Ratnagiri, Gadchiroli, Vidarbha and Marathwada region and more.A technique developed by one of state government’s forest officers during his PhD is being used by nearly four lakh households across the state to reduce the use of firewood and thus of carbon emissioDr Dilip SinghA technique developed by one of state government’s forest officers during his PhD is being used by nearly four lakh households across the state to reduce the use of firewood and thus of carbon emission by nearly two tonnes. The 8X10 inches grating plate was installed at the base of the stove, leaving a free passage below it.While discussing the technique, Dr Singh said that he first demonstrated the modified stove in July 2014, at Ratnagiri. But the people seem to easily accept a minor modification in the design of the traditional wood stove. I also noticed that with this process, the amount of smoke generated while burning of the wood also reduced,” said Dr Singh. “The modification of the fuel-wood stove reduces the fuel wood consumption by 40 per cent, is what I had realised during my research.

He further added, “Also, the flame turns to blue once the China double ended metal to wood screw dowel screws wood catches fire properly, providing more energy for cooking due to which the cooking period is reduced considerably. According to them, the economics attached to such schemes is not useful in the long term.The demonstration received good response in Valoti village in Chiplun block at the house of a resident named Sachin Bamne.The member secretary of Maharashtra State Biodiversity Board (MSBB), Dr Dilip Singh, developed an upgraded version of the locally available fuel-wood stove which has, within two years, reached four lakh households that had no access to cooking gas. Dr Singh also said that after the pilot project, they had prepared an action plan to spread the idea in different parts of the state. During the initial meeting, he demonstrated how to modify the existing wood stove by using metal grating plates generally used in construction works. The MSBB, keeping an eye on conservation of fuel wood to reduce impact on natural forests, gradually succeeded in reaching four lakh households, located across the state. The stove designed by Dr Singh, costs only `80. We have joined hands with NGOs and local activists to spread the word and ensure that every household that uses firewood is a part of the plan,” said Dr Singh. The MSBB also joined hands with a team of Sahyadri Nisarga Mitra, a local conservation group, which then began to spread the idea in Chiplun.“The collection of wood for fire is a sensitive subject and people are not ready to accept other fuels in which incentive mechanism is involved. Several people who were present during the demonstration began to consider adopting the modified stove.