Journalism of Courage
Essar Group
Follow on:
Essar Group: A Multifaceted Indian Conglomerate Established in 1969 by Shashi Ruia and Ravi Ruia, the Essar Group has evolved into a prominent multinational conglomerate with a diversified portfolio. Operating under the banner of Essar Global Fund Limited (EGFL), the group maintains near-total owner...
- Company type Private
- Industry Conglomerate
- Founded 1969
- Headquarters Mumbai, Maharashtra, India
- Area served Worldwide
- Key people Ravi Ruia (Vice-Chairman), Prashant Ruia (Group CEO)
- Revenue ₹120,000 crore (US$14 billion) (2022)
- Number of employees 7,000+
- Subsidiaries Essar Energy, Essar Shipping (est. 1945), Black Box Corporation
- Website www.essar.com
Related Other Pages:
- IKEA, Reliance Industries and V-Guard Industries
Essar Group history
Last Updated : 17/02/25, 03:26 AM
Essar Group: From Breakwater to Debt-Free Founded in 1969 with a Rs 2.3 crore Chennai Port contract, Essar diversified rapidly. Its foray into power generation began in 1991, establishing itself as India's first Independent Power Producer (IPP) with a 515 MW plant at Hazira. Subsequent expansion saw...
ESSAR GROUP NEWS
NCLAT extends deadline for NCLT to decide on Essar Steel case by February 19
February 13, 2019 1:13 am
During the hearing, NCLAT was informed that Ahmedabad bench has completed hearing on operational creditors plea and is scheduled to hear plea of suspended Board of Directors (Promotors) of Essar Steel later (in the day Tuesday).
Essar Global pays up Rs 12,000 crore to lenders
January 08, 2019 12:42 am
Essar Global has now repaid around Rs 6,300 crore to ICICI Bank, Axis Bank and Standard Chartered Bank.
Ahead of January 7 hearing, Essar invokes NCLT’s ‘spirit of IBC’
January 04, 2019 2:50 am
Commenting on the order, an Essar Group spokesperson said, “The judgement will have an important and urgent bearing in the case of resolution proceedings in the case of Essar Steel, where the NCLT Ahmedabad is seized with similar circumstances”.
DRI investigation into coal importers: Conspiracy to slow down probe, SIT should take over, says Congress
September 04, 2018 2:13 am
Congress alleged that the probe is not moving fast because the companies being probed included some of the “favourite capitalists” of the Narendra Modi government.
ArcelorMittal to form joint venture with Nippon Steel to buy India's Essar Steel
March 02, 2018 12:43 pm
ArcelorMittal unit ArcelorMittal India Pvt Ltd submitted a plan to India's National Company Law Tribunal, which deals with insolvency and company disputes, on Feb. 12 to bid for Essar Steel in partnership with Nippon Steel.
Essar group to invest $250 million to expand refining capacity in UK
September 07, 2017 2:21 am
The company said that capital expenditure in FY18 will lift the annual throughput from existing 68 million barrels to 75 million barrels and the project will also result in enhanced yields of high value products along with reducing crude cost and driving revenue growth.
India Essar closes sale of refining arm to Rosneft led consortium
August 21, 2017 2:18 pm
The deal reduces some of the pressure on Essar, which is controlled by the billionaire Ruia brothers. The group with presence in oil and gas, steel, ports and power, has been under pressure to reduce its debt burden.
Essar Group promoter Ravi Ruia denied permission to go abroad
February 14, 2016 11:08 am
Special CBI judge O P Saini dismissed his plea in which he had sought the court's permission to go to London from February 7 to March 14 to spend time with his family there.
Essar Oil completes delisting process with Rs 3,745-cr payout
December 31, 2015 2:42 am
The group has privatised four entities – Essar Oil, Essar Ports, Essar Steel and India Securities — and has made a payout of over Rs 7,200 crore to investors.
What Essar did not tell Supreme Court: how it asked staff to keep jobs for VIPs, pay their bills
December 24, 2015 11:20 am
Called ‘Navigating the corridors of Power: To positively influence the high and mighty’, the presentation flies in the face of what the company told the Supreme Court last month.
