Tag: Essar

Essar Oilfields wins drilling contract from GAIL

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…]

ArcelorMittal's plan approved by CoC to take over Essar Steel, LoI issued

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…]

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