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Essar group News

26 Nov 2024

Essar Group Co-Founder Shashi Ruia Dies At 80 After Prolonged Illness

Ruia was receiving treatment in the US and returned about a month ago.

06 Nov 2017

Nothing legally wrong in promoters bidding for NCL assets: SBI

There have been reports that a few lenders and some bidders have objected to promoters bidding for their own stressed accounts.

India private sector

05 Oct 2017

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

Speaking at the India Economic Summit, he said that huge private investment during the last five years has created a lot of surplus capacity.

22 Aug 2017

Essar Group to pay additional Rs 75.48 per share to ex-EOL shareholders

The Essar Group on Tuesday said it will pay an additional Rs 75.48 per share to Essar Oil's ex-shareholders, who tendered their shares at the open offer in the run-up to the delisting of the company that was sold to the Russian giant Rosneft yesterday for USD 12.9 billion.

21 Aug 2017

Ruias shave off 67% of Rs 1.05 trillion group debt with EOL sale

The Ruias-promoted Essar Group, as of March 2017, had a long term debt of Rs 1.05 trillion and a working capital loan of Rs 30,000 crore at the holding company and group companies level, taking the total burden to Rs 1.35 trillion.

23 Jun 2017

Lenders approve Rs 86,000-crore Essar Oil sale to Rosneft

The Essar group has crossed the last hurdle to complete the sale of its Gujarat refinery to Russia's Rosneft, with the lenders, including LIC, giving the go-ahead to the deal, sources said.

03 May 2017

IT official, Essar MD among six held in bribery case

In a major swoop, the CBI on Wednesday arrested an Income Tax Commissioner, a top Essar Group official and four others in a bribery case and seized Rs 1.50 crore during operations in Mumbai and Visakhapatnam, officials said here.

30 Apr 2017

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

Ruias-owned Essar Group is seeking a refund of Rs 4,000 crore capital gains tax deducted six years ago when it sold stake in telecom venture to Vodafone Plc of the UK.

2G Spectrum allocation scam

19 Apr 2017

Special court concludes arguments in 2G scam case

A special court today concluded final arguments in 2G spectrum allocation scam case involving former Telecom Minister A Raja, DMK MP Kanimozhi and others as accused, six years after the CBI filed the first charge sheet.

Delhi High Court

19 Jul 2016

HC refuses to interfere in Essar phone tapping matter

The Delhi High Court on Tuesday refused to direct a court-monitored probe by an SIT into the allegation that corporate major Essar tapped phones of high- profile people and some union ministers, saying the Centre has already asked the Delhi Police to investigate the matter.

11 Jul 2016

Police to conduct inquiry on Essar phone tapping, court told

The police have been asked to conduct a preliminary inquiry into a Supreme Court lawyer`s allegations that the Essar Group tapped phone conversations of corporate chiefs.

19 Jun 2016

PM Modi orders immediate probe into Essar phone tapping controversy

In the latest in the Essar leaks, Prime Minister Narendra Modi has ordered an immediate probe in the alleged tapping of telephone conversations by the Essar Group.

Essar-phone tapping case

19 Jun 2016

Govt yet to order probe into Essar-phone tapping controversy

The government has not ordered any probe into Essar-phone tapping controversy, said government sources, denying reports that the Prime Minister's Office has asked the Home Ministry to probe into the alleged phone tapping by Essar Group between 2001 and 2006.

Reliance Industries

18 Jun 2016

Reliance wants full probe in 'illegal phone tapping' case

Reliance Group today said it was "shocked" at reports referring to illegal tapping of phones of some of its executives and expected authorities to fully probe the matter to bring the guilty to book at the earliest.

17 Jun 2016

Essar Group tapped phones of Suresh Prabhu, Ambani brothers!

Essar Group, the Indian multinational conglomerate holding company with investments in the sectors of steel, energy, infrastructure and services, tapped telephone conversations of VVIPs, including Cabinet ministers and corporate honchos.

31 Mar 2016

Essar sells housing project in Bengaluru for Rs 300 crore

Essar Group today announced sale of its luxury housing project in Bengaluru for Rs 300 crore to SNN Builders as part of the company's strategy to monetise non-core assets

2G spectrum scam

05 Nov 2015

Essar-Loop case: Court allows Ravi Ruia to travel abroad

The court allowed his plea observing that Ruia has earlier been permitted to travel abroad on numerous occasions and has complied with all the conditions imposed upon him.

15 Oct 2015

2G case: CBI's change of stand led to summoning of Mittal, Ruia, says Court

The "change of stand" by CBI over documents filed with its charge sheet in 2002 surplus spectrum case had led to the summoning of Bharti Cellular Ltd CMD Sunil Bharti Mittal, Essar Group promoter Ravi Ruia and one other as "additional accused" in the case, a special court said Thursday.

11 Oct 2015

Panel defers green nod to Essar firm's expansion project

Environment Ministry's panel EAC has deferred the decision to grant environment clearance (EC) to Essar group firm Vadinar Oil Terminal Ltd for expansion of a marine terminal in Gujarat and has sought more information from the company.

21 Sep 2015

Essar-Loop case: 2G court to hear final arguments on Nov 17

A Special Court Monday fixed November 17 for hearing the ongoing final arguments in a case arising out of 2G scam probe in which promoters of Essar group and Loop Telecom Limited (LTL) are facing trial.

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