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Essar Group Says It Is Debt-Free After Repaying $25 Billion
Essar Group has become debt-free, having settled the remainder of its $25 billion debt after the sale of two ports and a power plant to ArcelorMittal Nippon Steel Ltd (AM/NS), the group said today.
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Jet Airways Founder Naresh Goyal Among Potential Pegasus Targets: Report
The potential targets of Pegasus included former chairman of Jet Airways Naresh Goyal, SpiceJet managing director Ajay Singh, Essar Group's Prashant Ruia and some top PSU officials, according to the latest list of names released by The Wire.
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Essar Group Hails Court Verdict Acquitting Its Promoters In 2G Spectrum Allocation Case
The Essar Group today welcomed the judgement of the special court acquitting its promoters Ravi Ruia and Anshuman Ruia in a case arising out of the probe into the 2G spectrum allocation scam.
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In India's Largest FDI, Russian Group Completes $12.9 Billion Buyout Of Essar Oil
The company director, Prashant Ruia, said the firm will pay back as much as Rs 70,000 crore to lenders, including SBI, ICICI Bank, Axis Bank, IDBI Bank and StanChart, among others.
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Essar Announces Aegis Sale, To Completely Exit From BPO Business
Essar had in July 2014 sold Aegis USA Inc, an outsourcing and technology company with operations in the US, the Philippines and Costa Rica, to Teleperformance of Paris for $610 million.
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Ruia Group Chairman Sent To 14-Day Police Custody, Fresh Charges Against Him
Ruia Group chairman Pawan Ruia was today remanded in 14 days' police custody and fresh charges including of criminal conspiracy slapped on him, a day after he was arrested by the West Bengal CID in connection with a complaint of theft lodged by the railways.
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Industrialist Pawan Ruia Arrested In Delhi By Bengal CID
Industrialist Pawan Ruia has been arrested by the West Bengal Criminal Investigation Department (CID) this morning from his residence in the national capital. He is being brought to Kolkata for questioning.
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ICICI, Axis, StanChart Get Back $2.5 Billion Of Essar Loans
Within days of Essar Group signing a mega $12.9-billion asset sale in its oil business, three top lenders -- ICICI Bank, Axis Bank and StanChart -- have got back an estimated $2.5 billion as part of the first payment for their debt exposure to the Ruias-led conglomerate.
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Essar Not Exiting Oil & Gas Business: Prashant Ruia
Essar signed agreements on Saturday to sell 49 per cent in the 20 million tons a year Vadinar refinery in Gujarat.
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Deal With Rosneft Is US Sanctions-Compliant, Says Essar Group CEO
The sale, which was signed on Saturday, is the biggest foreign acquisition ever in India and Russia's largest outbound deal.
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Essar Said To Near Binding Deal On Sale Of $6.5 Billion Refiner
The Indian conglomerate aims to sign a binding deal in the next two weeks to sell 49 percent of Essar Oil Ltd. to Rosneft, according to the people, who asked not to be identified because the information is private.
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'Had Bad Experience': Supreme Court Rejects Industrialist Ravi Ruia's Foreign Travel
Dismissing Essar Group promoter Ravi Ruia's request to travel abroad, the Supreme Court today cited "a bad experience" and said a person who had promised to return never did.
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Essar Projects Bags Rs 85-Crore Order From Indian Oil
Essar Projects, promoted by the Ruias, on Tuesday announced that it has won a Rs 85-crore order from Indian Oil Corporation to replace its 141 kilometres of pipeline.
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Essar Eyes Sale Of Gujarat Refinery: Report
Essar, which is controlled by the billionaire Ruia brothers and has assets in the oil and gas, steel, ports and power sectors, has faced pressure from creditors to reduce borrowing that some analysts estimate at more than $14 billion.
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Essar Oil Profit At $244 Million In FY16; Enters UK's Retail Market
Essar Oil UK controlled by the Mumbai-based Ruia family had clocked a net profit of $70 million in the previous fiscal.
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Essar Group Says It Is Debt-Free After Repaying $25 Billion
Essar Group has become debt-free, having settled the remainder of its $25 billion debt after the sale of two ports and a power plant to ArcelorMittal Nippon Steel Ltd (AM/NS), the group said today.
-
Jet Airways Founder Naresh Goyal Among Potential Pegasus Targets: Report
The potential targets of Pegasus included former chairman of Jet Airways Naresh Goyal, SpiceJet managing director Ajay Singh, Essar Group's Prashant Ruia and some top PSU officials, according to the latest list of names released by The Wire.
-
Essar Group Hails Court Verdict Acquitting Its Promoters In 2G Spectrum Allocation Case
The Essar Group today welcomed the judgement of the special court acquitting its promoters Ravi Ruia and Anshuman Ruia in a case arising out of the probe into the 2G spectrum allocation scam.
-
In India's Largest FDI, Russian Group Completes $12.9 Billion Buyout Of Essar Oil
The company director, Prashant Ruia, said the firm will pay back as much as Rs 70,000 crore to lenders, including SBI, ICICI Bank, Axis Bank, IDBI Bank and StanChart, among others.
-
Essar Announces Aegis Sale, To Completely Exit From BPO Business
Essar had in July 2014 sold Aegis USA Inc, an outsourcing and technology company with operations in the US, the Philippines and Costa Rica, to Teleperformance of Paris for $610 million.
-
Ruia Group Chairman Sent To 14-Day Police Custody, Fresh Charges Against Him
Ruia Group chairman Pawan Ruia was today remanded in 14 days' police custody and fresh charges including of criminal conspiracy slapped on him, a day after he was arrested by the West Bengal CID in connection with a complaint of theft lodged by the railways.
-
Industrialist Pawan Ruia Arrested In Delhi By Bengal CID
Industrialist Pawan Ruia has been arrested by the West Bengal Criminal Investigation Department (CID) this morning from his residence in the national capital. He is being brought to Kolkata for questioning.
-
ICICI, Axis, StanChart Get Back $2.5 Billion Of Essar Loans
Within days of Essar Group signing a mega $12.9-billion asset sale in its oil business, three top lenders -- ICICI Bank, Axis Bank and StanChart -- have got back an estimated $2.5 billion as part of the first payment for their debt exposure to the Ruias-led conglomerate.
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Essar Not Exiting Oil & Gas Business: Prashant Ruia
Essar signed agreements on Saturday to sell 49 per cent in the 20 million tons a year Vadinar refinery in Gujarat.
-
Deal With Rosneft Is US Sanctions-Compliant, Says Essar Group CEO
The sale, which was signed on Saturday, is the biggest foreign acquisition ever in India and Russia's largest outbound deal.
-
Essar Said To Near Binding Deal On Sale Of $6.5 Billion Refiner
The Indian conglomerate aims to sign a binding deal in the next two weeks to sell 49 percent of Essar Oil Ltd. to Rosneft, according to the people, who asked not to be identified because the information is private.
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'Had Bad Experience': Supreme Court Rejects Industrialist Ravi Ruia's Foreign Travel
Dismissing Essar Group promoter Ravi Ruia's request to travel abroad, the Supreme Court today cited "a bad experience" and said a person who had promised to return never did.
-
Essar Projects Bags Rs 85-Crore Order From Indian Oil
Essar Projects, promoted by the Ruias, on Tuesday announced that it has won a Rs 85-crore order from Indian Oil Corporation to replace its 141 kilometres of pipeline.
-
Essar Eyes Sale Of Gujarat Refinery: Report
Essar, which is controlled by the billionaire Ruia brothers and has assets in the oil and gas, steel, ports and power sectors, has faced pressure from creditors to reduce borrowing that some analysts estimate at more than $14 billion.
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Essar Oil Profit At $244 Million In FY16; Enters UK's Retail Market
Essar Oil UK controlled by the Mumbai-based Ruia family had clocked a net profit of $70 million in the previous fiscal.
