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The ongoing tussle between ArcelorMittal and Essar Group over ownership of the captive port at Hazira has taken a legal turn. “The immediate focus of the Liberty Steel Group board will be to manage the impact of COVID-19 on our people, operations and customers, and ensure the group is well prepared for the recovery when it comes,” said the executive chairman of the group, Sanjeev Gupta.JSW has acquired Bhushan Power and Steel’s 3.5 mtpa (million tonnes per annum) plant in Odisha through insolvency resolution.While the world's largest steelmaker said it has no immediate need to draw upon this facility, it will provide the company "additional financial flexibility in the current extraordinary circumstances," according to an official statement. ArcelorMittal had initiated payment for the acquisition of debt-ridden Essar Steel for Rs 42,000 crore on December 13, making it the single-biggest recovery under … ArcelorMittal forms joint venture with Nippon Steel to operate Essar Steel; Aditya Mittal to be chairman of JV.The deckS for acquisition of Essar Steel for ₹42,000 crore by L.N. While demand across the country had shrunk in the aftermath of the first three phases of the lockdown, business is expected to revive toward the latter half of the financial year.Oommen's appointment comes in the wake of the recent resignation of T V Narendran, managing director of Tata Steel from the position of President, Indian Steel Association.Hunt for the brightest engineers in IndiaArcelorMittal Europe is investing in two routes to carbon neutrality, Smart Carbon and an DRI-based route to reduce CO2 emissions in line with the EU’s Green Deal and the Paris Agreement, according to an official statement.In an 81-page judgment, High Court Judge Andrew Henshaw on Monday found no merit in the case being brought by ArcelorMittal to enforce a worldwide freeze on Essar's assets to protect them from "dissipation" while the former pursues parallel legal remedies.Essar Steel owns a 10 million tonnes per annum steel plant at Hazira in Gujarat, which is serviced by a captive jetty constructed at port.Mittal said this while interacting with Gujarat Chief Minister Vijay Rupani through a video conference. India ramps up rail cooperation with Dhaka, will hand over 10 broad gauge locomotives. ArcelorMittal had earlier also opposed Essar Bulk Terminal Limited’s decision to opt in under the new port policy of the Government of Gujarat. Described as its biggest achievement in 2019, ArcelorMittal said that the acquisition of Essar formed a … Copyrights © 2020 Business Standard Private Ltd. All rights reserved.Business Standard is happy to inform you of the launch of "Business Standard Premium Services"Article 226 of the Constitution empowers the high courts to issue, to any person or authority, including the government (in appropriate cases), directions, orders or writs."EBTL is not an independent licensee but merely a 'nominee' and 'trustee', holding the two licenses on behalf of and in trust for petitioner's exclusive use and benefit," AMNSIL said."The petitioner is seeking the reversion of the captive jetty licenses," AMNSIL said in its petition, claiming it was a captive user of the jetty and intended beneficiary under all licences and expansions.While the government is yet to decide on the matter, the firm has approached the court stating that Essar Bulk Terminal Ltd (EBTL) holds captive licence as a nominee or trustee, according to the petition filed under Article 226.Subscribe to insight at just Rs 149 per monthHe did not cite any reason for recusing himself.Essar Steel has ceased to be the same group company and therefore EBTL no longer stands eligible and does not possess any right as a license holder of the captive jetty, the company said.Within days of acquiring Essar Steel under an insolvency process, AMNSIL had made an application to the Gujarat Maritime Board requesting that the licence of Hazira port be transferred to them.Essar Steel owns a 10 million tonnes per annum steel plant at Hazira in Gujarat, which is serviced by a captive jetty constructed at the port.As a premium subscriber you get an across device unfettered access to a range of services which include:In an oral order, Justice Udhwani, in whose court the matter was listed for hearing, said "not before this court"."Not before this Court; for placing the matter with the appropriate court, the papers shall be posted with the Hon''ble the Chief Justice latest by July 29, 2020," Justice Udhwani said.