Essar Group

Wednesday, Apr 24, 2024 | Last Update : 08:27 AM IST

While the group deleveraged some of its assets, its flagship Essar Steel was dragged to bankruptcy proceedings by lenders over unpaid loans. (Photo: File)

Essar leads corporate deleveraging; pays off Rs 1.4 lakh crore: Prashant Ruia

I think we were the first to get off the block and actually take some decisive steps to reducing leverage, said Essar's Prashant Ruia.

13 Oct 2019 11:36 AM

Details of more than 100 Indians nationals have been shared in the past one year by the Swiss government with the Indian authorities.

India seeks Swiss tax department's assistance in probe against six Essar firms

Under Swiss laws, foreign clients of Swiss banks are given an opportunity to appeal against proposed sharing of their details in 30 days.

29 Jun 2019 10:44 AM

Essar Oil & Gas gets environment clearance to begin shale gas exploration

Essar has already signed an agreement to sell entire production from Raniganj East CBM block to state gas utililty GAIL India Ltd.

03 Mar 2019 2:58 PM

The end appears to be in sight for the problems plaguing imported coal-based projects of Tatas, Adanis and the Essar Group in Gujarat as the state cabinet is all set to approve a rescue plan for their stressed power projects that would allow higher fuel charge, extended power purchase agreement (PPA) and a haircut from lenders.

Light at end of tunnel for Gujarat power companies

The state cabinet is all set to approve a rescue plan for their stressed power projects.

08 Oct 2018 11:17 AM

Ruia family-owned Essar Group has started supply of gas produced from coal seams to state-owned GAIL India.

Essar begins CBM gas supply to GAIL

CBM production from Raniganj East block is envisaged at 2.3 million standard cubic metres per day.

03 Oct 2018 1:56 PM

Whistle-blower Arvind Gupta. (Photo: ANI)

ICICI-Videocon case: Whistleblower levels new allegations in letter to PM

The IT department in the first week of April had sent a notice to NuPower Renewables.

02 Jun 2018 4:32 PM

Essar group had announced in 2016 that it would sell the property to Bengaluru-based realty firm RMZ Corp.

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

Essar group would utilise the entire sale proceeds to repay loans.

24 Apr 2018 1:28 PM

Russians seek ‘Make in India’ benefit

Nikolay Kudashev, ambassador, Russian Federation in India and CM Devendra Fadnavis had discussions regarding these special zones.

21 Feb 2018 7:51 AM

CBI had named them in its charge sheet on December 12, 2011, alleging they had cheated the Department of Telecommunication by using Loop Telecom as a 'front' to secure 2G licences in 2008.

Essar Group hails court verdict acquitting its promoters

Besides Ruias, the court also acquitted Vikash Saraf, one of the Essar Group Directors.

21 Dec 2017 12:06 PM

Essar Group on Monday announced the closure of its BPO arm Aegis sale for Rs 2,000 crore. (File Photo)

Essar concludes Aegis sale for Rs 2,000 crore, says it's able to cut debt

The company announced the conclusion of the Rs 2,000-crore sale of Aegis to Capital Square Partners (CSP).

27 Nov 2017 4:35 PM

Tata Steel, Essar Group and ArcelorMittal are learnt to have submitted bids to acquire debt-laden Essar Steel.

Essar Group, Tatas, ArcelorMittal bid for Essar Steel

Essar Steel is among the largest single location steel producers with a 10 MTPA liquid steel capacity.

29 Oct 2017 6:52 PM

Once services commence, the ferry is expected to do four round trips every day. (Photo: PTI)

Essar completes construction of Ro-Ro terminals in Gujarat

Ro-ro ferry will bring down the travel time between Gujarat's Ghogha and Dahej ports from 7 hours to just 2.5 hours.

23 Oct 2017 4:46 PM

It would take one more year for pvt investment to pick up: Ruia

Essar Group director says huge private investment during last five years has created a lot of surplus capacity.

05 Oct 2017 6:48 PM

The Essar Group on Tuesday said it will pay an additional Rs 75.48 per share to Essar Oil's ex-shareholders.

Ex-Essar Oil shareholders to get additional Rs 75.48 per share

This is additional payout over and above price of Rs 262.80 per share paid to shareholders at the time of delisting.

22 Aug 2017 4:46 PM

The USD 12.9 billion deal, the largest FDI inflow into the country as also the largest investment out of Russia.

Essar Group says non-compete clause with Rosneft only for 3yrs

Rosneft will pay a royalty to Essar Group for using brand name of Essar Oil at over 3,500 petrol pumps.

22 Aug 2017 9:45 AM

Tax department is, however, contesting the claim of Essar Communications, saying the deal was structured in a way so as to misuse the provision of the treaty.

Essar Group seeks Rs 4,000 cr refund from I-T dept

Essar tax refund case is likely to linger at AAR as the post of chairman has been lying vacant since August 2016.

30 Apr 2017 12:14 PM

The deal is estimated at around $275-300 million and will be used by the company to pay its debt.

Essar sells off BPO to clear debt

Essar entered the BPO business in 2004 with the acquisition of the US-based Aegis Communications Group, with 2,000 employees.

04 Apr 2017 12:57 AM

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Sanjeev Ahluwalia