Essar News

Essar Steel resolution: Ruias move NCLAT

In January, the NCLT had rejected the Ruias’ plea for placing an offer for resolution of Essar Steel, promoted by the latter.

SC rejects Essar Steel’s plea for compensation

Essar Steel had earlier moved SC seeking parity with the fertiliser and power sectors after a gas pooling policy was introduced in March 2015 to ensure adequate supply of gas to stranded power plants.


Essar sells office asset in Mumbai to Brookfield for Rs 2,400 crore

Essar Tuesday said it has completed the sale of Equinox Business Parks to Brookfield Asset Management for an enterprise value of Rs 2,400 crore.

Adani and Essar over-invoicing case: Court-monitored probe, Delhi HC seeks CBI response on pleas

A Bench of justices S Ravindra Bhat and A K Chawla asked the CBI to inform it about the preliminary enquiry (PE) it has conducted against one of the firms based on the Directorate of Revenue Intelligence (DRI) show-cause notices.

Ex-shareholders of EOL to get Rs 880 crore more from Essar

Public shareholders of Essar Oil will get a total amount of Rs 880 crore from the company.

Essar Oil closes sale of company to Russia's Rosneft for $12.9 billion

It is also Russia's single-largest foreign investment made anywhere in the world. The deal includes acquisition of Essar Oil's (EOL) 20 million tonne Vadinar refinery in Gujarat and its retail outlets, as well as the Vadinar Port at an additional $2 billion.


Open House: Government officials take up industry posers

During the session, it was stated that the Maharashtra Industry, Trade and Investment Facilitation Cell (MAITRI) aims at “Ease of Doing Business” in the state, with a view to enhance economic industrial growth of the state.

Our stays deprive Govt of dues, help Adani, Essar and Vedanta: Supreme Court

The Supreme Court Friday noted that its interim orders in favour of big corporate groups such as Vedanta, Adani and Essar may have blocked thousands of crores that could have been used by governments for public welfare.

Essar Projects, Saipem JV bags $1.57-bn contract in Kuwait

The new refinery project at Al Zour is Kuwait’s biggest development project with crude processing capacity of 6,15,000 barrels per day (bpd).

Banks seek new strategy to tackle stressed assets

Lenders have told finance ministry to change the existing plan for the revival of investments.