News Muncher - category essar

Essar Group Co-Founder Shashi Ruia Passes Away, PM Modi Offers Condolences

ABP News

Prime Minister Narendra Modi offered his condolences on the passing of Essar Group Co-Founder Shashi Ruia on Tuesday. He was always full of ideas, always… pic.twitter.com/2Dwb2TdyG9 — Narendra Modi November 26, 2024 According to a CNBC-TV18 report, the funeral procession will leave Ruia House at 4 pm and proceed to the Hindu Worli Crematorium. In addition, he was the former …

India Shashi Essar Ruia Shashi Ruia

3 weeks, 6 days ago

Essar Group co-founder Shashikant Ruia passes away

Hindustan Times

Shashikant Ruia, the co-founder of Essar Group, has passed away at the age of 80, the conglomerate announced on Tuesday. Essar Group co-founder Shashikant Ruia Ruia had been suffering from a “prolonged illness” and died in Mumbai at around 23.55 pm on Monday, after having returned from the US, where he was undergoing treatment, according to news agency PTI. Currently …

Group Essar Essar Group Ruia Shashikant Ruia

3 weeks, 6 days ago

Essar Group Co-Founder Shashi Ruia Passes Away At 80

ABP News

Shashi Ruia, the co-founder of Essar Group, passed away on Monday at the age of 80. Additionally, he was the former president of the Indian National Shipowners Association and a member of both the Prime Minister's Indo-US CEO Forum and the India-Japan Business Council. Essar Global Fund Ltd, which holds the businesses co-founded by the Ruia brothers, owns a diverse …

Essar Essar Group Ruia Shashi Ruia

4 weeks ago

Essar Group co-founder Shashi Ruia dies at 81

India Today

Shashikant Ruia, the co-founder of Essar Group and a prominent figure in India’s business landscape, died on Tuesday at the age of 81. Shashikant Ruia, Patriarch of the Ruia and Essar Family dies at age 81 A LIFETIME OF ACHIEVEMENTS Shashi Ruia co-founded Essar Group in 1969 alongside his brother Ravi Ruia. A LEGACY OF VISION AND INNOVATION Under Shashi …

Business India Vision Group Shashi Essar Essar Group

10 months, 1 week ago

SC nod for ArcellorMittal Nippon Steel, IOCL to appoint arbitrators in Essar case

Hindustan Times

The Supreme Court on Monday cleared the decks for the initiation of arbitration proceedings by Arcelor Mittal Nippon Steel India Limited and Indian Oil Corporation Ltd for resolving their dispute relating to Essar Steel India Limited. In view of the agreement of the parties, the Delhi high court’s judgment dated October 10, 2023, is rendered infructuous,” stated the bench, which …

India Delhi Court Resolution High Appoint Iocl

10 months, 2 weeks ago

Quandary Of Dissenting Financial Creditors Having Security Interest: Perhaps Supreme Court's Larger Bench To Guide Dissenting Financial Creditors

Live Law

The recent judgment by a Two-Judge Bench of the Supreme Court, delivered by Justice Sanjeev Khanna and Justice S.V.N. Therefore, while the DBS Bank judgment cites relevant decisions such as Committee of Creditors of Essar Steel India Limited, Swiss Ribbons, and Vallal RCK, which emphasize the importance of respecting the commercial wisdom of the CoC, it also noted that, while …

Financial Court Resolution Value Supreme Bench Code

11 months, 1 week ago

Vibrant Gujarat Summit: From investments to PM’s address. Day 1 Key Highlights

Live Mint

Vibrant Gujarat Summit Day 1: Prime Minister Narendra Modi inaugurated the much-anticipated Vibrant Gujarat Global Summit 2024 in Gandhinagar on 10 January. The inauguration of the 10th edition of the Vibrant Gujarat Global Summit witnessed participation of state heads and top CEOs of private companies including Mukhesh Ambani, Gautam Adani, Maruti Suzuki's President, Tata Sons's Chairman N Chandrasekaran making significant …

Global India World Prime Gujarat Renewable Energy Minister

1 year ago

Look Into Allegations Of Over-Invoicing By Power Firms Including Adani, Essar Groups: Delhi High Court To CBI, DRI

Live Law

The Delhi High Court on Tuesday directed the Union Government, Central Bureau of Investigation and Directorate of Revenue Intelligence to “meticulously and expeditiously” look into the allegations of over invoicing of coal imports and equipments by several power companies, including those of Adani Group and Essar Group. A division bench of Justice Suresh Kumar Kait and Justice Neena Bansal Krishna …

Investigation Court Delhi High Court Power Companies Cbi Group

1 year ago

Essar to invest ₹55,000 crore in Gujarat creating 10,000 job opportunities

Live Mint

Essar group is set to invest ₹55,000 crore in energy transition, power, and port projects in Gujarat, the company announced on December 14, after signing pacts with the state government. We are delighted to further contribute to the state's economic progress with an additional investment of ₹55,000 crore in the Energy & Infrastructure sectors.” In a statement, the company said …

Gujarat Investment Power Crore Invest Essar Salaya Port

1 year ago

Monthly Digest Of IBC Cases: November 2023

Live Law

Supreme Court IBC Resolution Plan Can't Ignore Government Dues: Supreme Court Dismisses Review Petitions Against 'Rainbow Papers' Case title: Sanjay Agarwal v. State Tax Officer Citation: 2023 LiveLaw 939 The Supreme Court has dismissed a batch of review petitions filed against a 2022 judgment which held that the definition of a secured creditor under the Insolvency and Bankruptcy Code, 2016 …

Law India Supreme Court Court Resolution National Corporate Debtor

1 year, 1 month ago

Weekly Digest Of IBC Cases: 13th To 19th November 2023

Live Law

NCLAT Case Title: Patsons Construction v Shri Ram Ratan Kanoongo Case No. 1269 of 2022 The National Company Law Appellate Tribunal, Principal Bench, comprising of Justice Ashok Bhushan, Shri Barun Mitra and Shri Arun Baroka, has set aside a direction passed by the NCLT requiring a creditor to pay usage charges of a machine to the Corporate Debtor in absence …

Resolution Title Application Plan Nclt Machine Bench

1 year, 1 month ago

Arcelormittal’s Resolution Plan For Essar Steel, A Creditor Files Recall Application ; NCLT Ahmedabad Issues Notice

Live Law

The National Company Law Tribunal, Ahmedabad Bench, comprising of Shri Shammi Khan and Dr. Velamur G Venkata Chalapathy, has issued notice in an application seeking recall of the order dated 08.03.2019 whereby the resolution plan of ArcelorMittal India Pvt. The Applicants are creditors of Essar Steels India Ltd., who have alleged that the plan approval order was obtained by casting …

India Resolution Corporate Debtor Order Steel Plan Nclt

1 year, 3 months ago

Why Centre should prioritise IBC's alignment with other laws

Firstpost

The Indian Bankruptcy Code provides a comprehensive legal framework but does not eliminate the need for approvals from regulators and government bodies like CCI, RBI, SEBI, and others when resolution plans include their jurisdiction India currently ranks as the fifth largest economy and is projected to become the third largest economy by 2030. The IBC in India has witnessed numerous …

India Corporate Resolution Indian Companies Bankruptcy Successful

2 years ago

Essar Group to build Rs 40,000-crore petrochemical complex in Odisha; details here

Firstpost

The recent completion of Essar’s asset monetisation program has resulted in the group being free of debt to Indian financial institutions and banks In a joint venture with a major global player, the ports-to-power conglomerate, Essar Group, owned by billionaire brothers Shashi Ruia and Ravi Ruia, announced on 1 December that it plans to build a petrochemical complex in Odisha …

India Odisha Group Essar Group Petrochemical Complex Rs Essar

2 years, 1 month ago

Essar Group becomes debt-free after repaying $25 billion

Hindustan Times

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, the group said on Monday. Its steel business, operated through Essar Steel, was acquired by a joint venture of ArcelorMittal and Japan's Nippon Steel & Sumitomo Metal Corp. Essar Ports and …

India Debt Billion Group Essar Hazira Essar Group

2 years, 1 month ago

'Gujarat Govt Trying To Save Sitting MLA, SPP State's 'Puppet': Gujarat High Court Rejects Plea Seeking Withdrawal Of Prosecution Against BJP MLA

Live Law

The Gujarat High Court on Wednesday dismissed a petition seeking withdrawal of the prosecution against the sitting BJP MLA Dharmendrasinh alias Hakubha Jadeja, who is an accused in a 2007 case of mob violence. Referring to the earlier attempt of withdrawal, the court said: "Pursuant to the policy of the State Government, an opinion was called for from the then …

High Court Public Prosecutor Court Gujarat Prosecution Application App

2 years, 10 months ago

Essar to build refinery-based hydrogen furnace

Live Mint

Essar Oil UK on Wednesday said it plans to install a £45 million furnace at its Stanlow refinery that will be capable of using hydrogen as its fuel source. This follows the launch of Vertex Hydrogen in January, a new Essar-led joint venture, in which the company will invest £1 billion over the next five years to cut emissions, including …

Essar Hydrogen Furnace Stanlow Furnace Including

2 years, 11 months ago

Essar Capital appoints former SAIL head Anil K Chaudhary as CEO, metals & mining

Live Mint

Essar Capital Ltd, the investment manager of Essar Global Fund Ltd, has appointed former chairman and managing director of Steel Authority of India Limited Anil Kumar Chaudhary as chief executive officer for its metals & mining business. He will be a member of the executive committee, and will play a key role in driving the investment strategy and growth in …

Mining Metals Essar Essar Capital Capital Appoints Sail Head

3 years, 2 months ago

Ambulance crashes into car waiting for fuel - as MORE petrol stations close

Daily Mail

As many as nine in ten forecourts have run out of fuel with the rest set to run out quickly, experts have warned amid a weekend of chaos that saw an ambulance hit a car in a petrol queue and ministers suspending competition laws in a bid to beat back the crisis. As the developing fuel crisis unfolds, it was …

Government Europe London Christmas Ambulance Transport Brexit

3 years, 7 months ago

Will Arbitral Award-Holder's Claim Be Extinguished On Approval Of Award-Debtor's Resolution Plan Under IBC? Yes, Rules Calcutta High Court

Live Law

On Friday, the Calcutta High Court settled an important question of arbitration law, viz., whether an arbitral award-holder's claim would stand extinguished upon the approval of a Resolution Plan for the award-debtor's revival, when it was not pressed during the Corporate Insolvency Resolution Process. Relying on Supreme Court rulings from 2020, Justice Moushumi Bhattacharya ruled that the claim would get …

Law High Court Court Resolution Application Res Judicata Resolution Plan

3 years, 10 months ago

Orissa High Court Dismisses PIL Challenging Auction To ArcelorMittal Nippon Steel Limited

Live Law

In a big relief to ArcelorMittal Nippon Steel Limited, Tata Steel BSL Limited, and Bhushan Power and Steel Limited, the Division Bench comprising of Chief Justice S. Muralidhar and Justice C.R. The auction process for grant of Iron Ore blocks was initiated by the Government of Odisha for Ghoraburhani-Sagasahi block, Kalamanga West block, Netrabandha-Pahar block, and the Letters of Intent …

Steel Process Limited Steel Limited

3 years, 11 months ago

Urgency to fix India’s bankruptcy code

Live Mint

MUMBAI : On the face of it, an abandoned half-constructed hospital that Mumbai’s municipal corporation successfully resuscitated overnight to treat hundreds of critical covid-19 patients is a great feel-good story for 2020. Ever since a bankrupt Seven Hills was admitted into the corporate insolvency resolution process in April 2018, the Brihanmumbai Municipal Corporation —which owns the land where the hospital …

India Corporate Cases Case Steel Bankruptcy Bmc

4 years ago

Insolvency Law In Review – November 2020

Live Law

The enactment of the Insolvency and Bankruptcy Code 2016 has had significant ramifications on the corporate insolvency landscape. In Sanjeev Kumar v. Aithent Technologies Private Limited, the NCLAT by a majority judgment held that the NCLT, Kolkata had rightly admitted the application filed u/s 9 of the Code by the lessor, as even though the dues arising from the lease …

Law Mumbai Supreme Court Insolvency Resolution Corporate Debtor Application

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Articles for Essar

Essar Group Co-Founder Shashi Ruia Passes Away, PM Modi Offers Condolences

Essar Group co-founder Shashikant Ruia passes away

Essar Group Co-Founder Shashi Ruia Passes Away At 80

Essar Group co-founder Shashi Ruia dies at 81

SC nod for ArcellorMittal Nippon Steel, IOCL to appoint arbitrators in Essar case

Quandary Of Dissenting Financial Creditors Having Security Interest: Perhaps Supreme Court's Larger Bench To Guide Dissenting Financial Creditors

Vibrant Gujarat Summit: From investments to PM’s address. Day 1 Key Highlights

Look Into Allegations Of Over-Invoicing By Power Firms Including Adani, Essar Groups: Delhi High Court To CBI, DRI

Essar to invest ₹55,000 crore in Gujarat creating 10,000 job opportunities

Monthly Digest Of IBC Cases: November 2023

Weekly Digest Of IBC Cases: 13th To 19th November 2023

Arcelormittal’s Resolution Plan For Essar Steel, A Creditor Files Recall Application ; NCLT Ahmedabad Issues Notice

Why Centre should prioritise IBC's alignment with other laws

Essar Group to build Rs 40,000-crore petrochemical complex in Odisha; details here

Essar Group becomes debt-free after repaying $25 billion

'Gujarat Govt Trying To Save Sitting MLA, SPP State's 'Puppet': Gujarat High Court Rejects Plea Seeking Withdrawal Of Prosecution Against BJP MLA

Essar to build refinery-based hydrogen furnace

Essar Capital appoints former SAIL head Anil K Chaudhary as CEO, metals & mining

Ambulance crashes into car waiting for fuel - as MORE petrol stations close

Will Arbitral Award-Holder's Claim Be Extinguished On Approval Of Award-Debtor's Resolution Plan Under IBC? Yes, Rules Calcutta High Court

Orissa High Court Dismisses PIL Challenging Auction To ArcelorMittal Nippon Steel Limited

Urgency to fix India’s bankruptcy code

Insolvency Law In Review – November 2020