Essar Group

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Essar Group - Total results - 91
India seeks Swiss tax department's assistance in probe against six companies of Essar group
Business

India seeks Swiss tax department's assistance in probe against six companies of Essar group

India has sought Switzerland tax department's assistance in a probe against six companies of the Essar group, including those into steel and power businesses, according to official documents of the Alpine nation

Pay all bad loans first, then we will consider your resolution package for Essar Steel: NCLAT to Ruias
Business

Pay all bad loans first, then we will consider your resolution package for Essar Steel: NCLAT to Ruias

The NCLAT also asked ArcelorMittal why it could not offer more for Essar Steel, which is worth of about Rs 54,000 crore, said the report.

ArcelorMittal offers Rs 4,800 cr for stressed Essar Mahan power project, lenders to soon decide on proposal
Business

ArcelorMittal offers Rs 4,800 cr for stressed Essar Mahan power project, lenders to soon decide on proposal

In October last year, Essar Group commissioned both units of the Essar Mahan power plant.

ICICI Bank loan controversy: BN Srikrishna panel finds former CEO Chanda Kochhar violated lender's code of conduct
Business

ICICI Bank loan controversy: BN Srikrishna panel finds former CEO Chanda Kochhar violated lender's code of conduct

ICICI Bank has said that it will treat Kochhar's resignation as 'Termination for Cause' and will stop payment of unpaid benefits

NCLT rejects Ruias' debt settlement proposal to retake Essar Steel; company hints at challenging verdict
Business

NCLT rejects Ruias' debt settlement proposal to retake Essar Steel; company hints at challenging verdict

If it is not challenged again, this opens the first major victory for the LM Mittal-run ArcelorMittal into the country

Essar Global says all overseas debt cleared; $1.75 billion paid to Indian, foreign banks
Business

Essar Global says all overseas debt cleared; $1.75 billion paid to Indian, foreign banks

Essar Global has now repaid about Rs 6,300 crore to ICICI Bank, Axis Bank, and Standard Chartered Bank. This repays entire Rs 31,500 crore of loans availed from these banks during 2008-14.

Essar Group will deleverage Rs 1.25 lakh cr debt if its offer for Essar Steel is accepted
Business

Essar Group will deleverage Rs 1.25 lakh cr debt if its offer for Essar Steel is accepted

Last week, the Committee of Essar Steel Creditors picked world's largest steelmaker ArcelorMittal's Rs 42,000 crore takeover offer over the company promoter's Rs 54,389 crore proposal to pay off all of the lenders' dues.

Ruias bid to regain Essar Steel with late payment smells of moral hazard; banks and govt must look at non-cooperative behaviour
Business

Ruias bid to regain Essar Steel with late payment smells of moral hazard; banks and govt must look at non-cooperative behaviour

From all indications, the Essar Steel insolvency process shows the Ruias need to be put under a lens.

Chanda Kochhar resigns as ICICI Bank MD and CEO: The fall of a feisty woman who broke the glass ceiling
Business

Chanda Kochhar resigns as ICICI Bank MD and CEO: The fall of a feisty woman who broke the glass ceiling

Kochhar joined ICICI, an infrastructure lender in its earlier avatar, as a management trainee in 1984 and rose to play an important part in its transformation into a retail-focused lender

Chanda Kochhar steps down: A timeline of Videocon loan controversy that led to ICICI Bank CEO's departure
Business

Chanda Kochhar steps down: A timeline of Videocon loan controversy that led to ICICI Bank CEO's departure

An anonymous whistle blower's had alleged that Kochhar did not adhere to provisions relating to "code of conduct" of ICICI Bank

Coal import scam: Bombay High Court grants interim relief to Adani Group from DRI
Business

Coal import scam: Bombay High Court grants interim relief to Adani Group from DRI

Last month, Adani Enterprises had filed a plea in the Bombay High Court seeking quashing of all LRs against its firms that are under probe for alleged over-invoicing of Indonesian coal imports.

ICICI Bank's board loves CEO Chanda Kochhar; that love has cost the banking giant dearly
Business

ICICI Bank's board loves CEO Chanda Kochhar; that love has cost the banking giant dearly

ICICI Bank's handling of the Videocon loan row puts out a major lesson for corporations, on how not to handle a looming corporate governance crisis.

Chanda Kochhar to go on leave pending enquiry into Videocon loan issue; ICICI Bank appoints Sandeep Bakhshi as COO
Business

Chanda Kochhar to go on leave pending enquiry into Videocon loan issue; ICICI Bank appoints Sandeep Bakhshi as COO

Chanda Kochhar, a career ICICI Group employee has been under the cloud since late March, when allegations of conflicts of interest and possible quid pro quo in lending to Videocon group, along with lack of disclosures by the bank, made headlines.

Whistleblower in ICICI-Videocon case levels new allegations against Kochhar in letter to prime minister
Business

Whistleblower in ICICI-Videocon case levels new allegations against Kochhar in letter to prime minister

Whistleblower Arvind Gupta claims Essar Group used Mauritius-based front companies to round-trip Rs 453 crore to Deepak Kochhar's NuPower Renewables

ICICI Bank loan row: Deepak Kochhar's NuPower Renewables received investments from Ravi Ruia's son-in-law's firm
Business

ICICI Bank loan row: Deepak Kochhar's NuPower Renewables received investments from Ravi Ruia's son-in-law's firm

Chanda Kochhar's husband Deepak Kochhar's NuPower Renewables Pvt Ltd reportedly got investments worth Rs 325 crore from Mauritius-based Firstland Holdings

2G spectrum case: CBI moves Delhi High Court challenging acquittal of Essar-Loop promoters
Business

2G spectrum case: CBI moves Delhi High Court challenging acquittal of Essar-Loop promoters

The CBI has moved the Delhi High Court challenging a trial court judgment that acquitted the Essar-Loop promoters in 2G spectrum allocation case

Our Essar Steel bid legit, ready to buy out Rewant Ruia, says Mauritius-based Numetal
Business

Our Essar Steel bid legit, ready to buy out Rewant Ruia, says Mauritius-based Numetal

Numetal and ArcelorMittal are the only two bidders for the 10-million tonne Essar Steel assets at Hazira, which owe the banks more than Rs 45,000 crore.

Essar group closes Rs 2000-cr Aegis sale; retires Rs 75,000 cr debt
Business

Essar group closes Rs 2000-cr Aegis sale; retires Rs 75,000 cr debt

Essar group has been selling off assets to pare its high debt, which has seen it exiting the oil business and also sell realty holdings, apart from Aegis, the BPO arm

Essar to pay additional Rs 880 cr or Rs 75.48 per share to minority shareholders of EOL
Business

Essar to pay additional Rs 880 cr or Rs 75.48 per share to minority shareholders of EOL

Minority shareholders of Essar Oil will get Rs 75.48 per share in addition to Rs 262.80 per share they had got on delisting

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

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

With this Rs 86,000-crore transaction, which makes it the largest FDI inflow for the country, the company hopes to close the deal by early next month, Essar group sources said.