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Essar News

24 Jul 2023

Indian Billionaire Buys London Mansion Worth Rs 1200 Crore And It's Not Ambani

One OF The Most Expensive Deals: The Hanover Lodge mansion overlooking Regent's Park at 150 Park Road was purchased this month by the family office of Ruia, through the sale of the residence's Gibraltar-incorporated holding company.

27 Mar 2023

Essar UK Appoints Mike Mackay As Chief Transformation Officer

Mike Mackay has over 25 years of experience in the oil and gas industry. He also has extensive knowledge of refining and the downstream oil sector in the UK.

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

Essar Oil completes sale of India assets to Rosneft for $12.9 billion

The Ruias-run Essar Oil on Monday announced the completion of sale of its India assets to the Russian government controlled Rosneft-led consortium for USD 12.9 billion.

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.

16 Nov 2016

Oil wars: Know how Kremlin's $13 billion Indian deal almost fell apart

A multi-billion-dollar Russian deal to buy Indian refiner Essar was nearly sunk at the eleventh hour by a rival bid from Saudi Arabia as the two oil superpowers vie for supremacy across the world.

17 Oct 2016

Exclusive Conversation with Prashant Ruia, Group Director of Essar after deal with Rosneft

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.

30 Jun 2016

Ruias plan to sell another 25% stake in Essar Oil

After stitching a deal to sell 49 percent stake in Essar Oil to Russia's Rosneft, the Ruia family is looking at selling another 25 percent stake in the company to an oil trader or a strategic investor like Saudi Aramco.

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.

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

03 Feb 2016

Essar sells business park in Mumbai for Rs 2,400 crore

In one of the largest office space deals, Essar Wednesday announced sale of its 1.25 million square feet Equinox Business Park at Bandra-Kurla Complex (BKC) in Mumbai to realty firm RMZ Corp for about Rs 2,400 crore.

03 Aug 2015

Loop Telecom Ltd was 'front company' for Essar: CBI to court

Advancing the ongoing final arguments in the case, Special public prosecutor Anand Grover said that violation of clause 8 of UASL guidelines by the accused firms was a crucial factor.

15 Apr 2015

Essar Steel's Vizag captive power plant restored

The plant is being operated at full capacity and has begun supplying power to the eight million tons per annum pellet plant, the company said in a statement.

13 Apr 2015

Essar Power commissions 1st unit of 120 MW Paradip Power Plant

The 120 MW coal fired power plant will meet the power requirement of Essar Steel's 12 million tonnes per annum integrated palletisation facility in Odisha.

political-corporate nexus

23 Mar 2015

PIL on political-corporate nexus: SC seeks Centre's response

The Supreme Court today sought response from the Centre and others on a plea seeking a court- monitored probe into the Essar email-leak case allegedly pointing to a "political-bureaucratic-corporate nexus".

15 Feb 2015

Hindalco bags Kathautia coal mine

On the second day of coal auction, Hindalco Industries today walked away with a coal mine in Jharkhand.

09 Jan 2015

SC order allays concerns of corporates: Essar

Essar Group Friday said the Supreme Court order setting aside a special court summoning its Vice Chairman Ravi Ruia will "assuage concerns of corporate leaders regarding misuse of judicial processes".

24 Dec 2014

Essar Oil to convert over $1 billion rupee loan into dollar debt

Essar Oil Wednesday said it will convert over USD 1 billion worth of rupee loan into dollar debt by March to reduce its cost of borrowings and will acquire group firm, Vadinar Power Co, for Rs 2,100 crore.

24 Nov 2014

Essar Steel raises $1 bn through export securitisation

According to the integrated steel producers, the latest move will help Essar Steel de-risk its balance sheet as its revenues are dollar linked and provides a natural hedge for dollar-denominated debt.

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