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A Delhi court today asked Bharti CMD Sunil Mittal and Essar promoter Ravi Ruia to seek clarification from the Supreme Court regarding its interim order on issue of holding trial proceedings in the additional spectrum allocation case.

New Delhi: The Supreme Court on Monday put on hold the sale of Essar Steel to ArcelorMittal as it agreed to hear the appeal filed by financial lenders against the NCLAT order, saying it would like to settle the issue "once and for all".

Mumbai: The Ruia family has made a last-ditch effort to avert losing its flagship company Essar Steel Ltd to Laksmi Mittal’s ArcelorMittal SA.

Mumbai: The Ruia family has made a last-ditch effort to avert losing its flagship company Essar Steel Ltd to Laksmi Mittal’s ArcelorMittal SA.

NEW DELHI: Continuing with its probe into the 2G scam, the CBI on Thursday questioned Essar Group CEO Prashant Ruia in connection with the alleged role of the company with Loop Telecom which got licences in 21 circles in January 2008.

Shares held by investors have been debited from demat accounts and those held in physical form as share certificates will not be valid either

The Ruias are the promoters of Essar Steel. Essar Steel’s Loans have been unpaid, and they were, since 2013, going through NPA, Restructuring, 5/25 and other such things.

The Essar Group has indicated that it is "poised to embark on a new phase of growth while driving growth in its existing portfolio." Essar did not specify what the new growth areas could be, but said it is "armed with a substantially lighter balance sheet" after it took "a conscious call of reducing its debt in response to evolving domestic and evolving economic scenario."

Besides Ruias, the court also acquitted Vikash Saraf, one of the Essar Group Directors, Loop Telecom Promoters IP Khaitan and Kiran Khaitan, three companies -- Loop Telecom Ltd, Loop Mobile (India) Ltd and Essar Teleholdings Ltd.

New Delhi, Aug 26 (PTI) Essar Group on Friday announced a USD 2.4 billion (Rs 19,000 crore) deal to sell its ports business to Arcelor Mittal Nippon Steel Ltd.

AHMEDABAD: In what is pegged as one of the largest mergers and acquisitions (M&A) deals, Ruia family-run Essar Group, on Monday announced the conclusion of transaction of its captive ports and power assets in Hazira and Pradip to leading steel maker, ArcelorMittal Nippon Steel India Limited (AM/ NS).

Mumbai: The $12.9 billion sale of India's Essar Oil to a group led by Russia's Rosneft does not run foul of U.S. sanctions imposed against the majority state-owned Russian energy firm, parent Essar Group's CEO said on Sunday.

The company director, Prashant Ruia, said the firm will pay back as much as ₹ 70,000 crore to lenders, including SBI, ICICI Bank, Axis Bank, IDBI Bank and StanChart, among others.

Rosneft and its partners restructured the board of the company, packing it with their representatives.

The SBI sought the attachment of global assets of Ruias to recover its balance Essar Steel dues, through debt recovery proceedings at the DRT.

New Delhi: Essar Steel Ltd's former promoter Prashant Ruia—along with two other directors of the erstwhile board of the steelmaker—has approached the National Company Law Appellate Tribunal (NCLAT) to thwart a last moment takeover of the debt-ridden firm by Lakshmi Mittal's ArcelorMittal.