Mumbai: In a bid to take back the control of their asset, Essar Steel on Thursday said its board and shareholders submitted a proposal to the Committee of Creditors (CoC) offering to repay Rs 54,389 crore and also sought withdrawal from insolvency proceedings. “The shareholders of Essar Steel have today[Read More…]
Tag: Essar
Gujarat govt alleviates pain of Adani, Tata, Essar as high powered committee eases marooned power projects
Gujarat government set up a three-member committee having former Supreme Court judge Justice RK Agarwal, former Deputy Governor of the Reserve Bank of India SS Mundra and former Chairperson of the Central Electricity Regulatory Commission (CERC), Pramod Deo on July 3, 2018 to find solutions for the thermal power plants[Read More…]
Essar Oilfields wins drilling contract from GAIL
Mumbai: Essar Oilfields Services India Ltd announced on Wednesday that it has won a contract worth Rs 28 crore from state-run gas utility GAIL India to drill three firms and two optional wells in the Cambay Basin in Gujarat. Drilling for the project is expected to commence in April-May 2018, Essar[Read More…]
Is Arcelor Mittal eligible to bid for Essar Steel?
The battle for Essar Steel has heated up with Arcelor Mittal and Numetal Mauritius submitting their bids for acquiring the distressed asset. The moot question, however, is on the eligibility of the bidders. Arcelor Mittal is ineligible as per Section 29A (c) of IBC since they are the promoter of[Read More…]
BJP let four private firms squander Rs 26,000 cr in Gujarat power scam: Congress
The Congress on Thursday alleged that the BJP government in Gujarat had let four private companies — Adani, ESSAR, Tata and China Light Power — to “squander” Rs 26,000 crore of the public exchequer by purchasing electricity from them at “unimaginably high rates” in a “huge power purchase scam” in[Read More…]
Jharkhand politician Nishikant Dubey lets his achievements do the talking
One AIIMS in Jharkhand, 18 ITI colleges, four hospitals, three agricultural colleges, three engineering colleges, four model colleges, three national highways, four water projects, houses with portable drinking water and a lot more – this isn’t a political manifesto of a party but the ground work done by one Member[Read More…]