The government has asked Essar Oil to provide within 45 days documentary evidence of deletion of all charges on Ratna R-Series oil fields that were created for raising funds for its Vadinar refinery project.
The bench also rejected the submission of senior advocate Mukul Rohatgi, appearing for Essar Oil Ltd, that the hearing be adjourned for four weeks.
ONGC was the top performer while private banking major ICICI Bank extended gains
While the Saudi drone strike has put the focus back on anti-drone measures, caution also stems from the fact that India has a number of large oil refining assets close to India-Pakistan border.
Last June, the group had delisted Essar Energy from the London Stock Exchange as well.
India, the world's fourth-biggest oil consumer, recently offered Saudi Aramco a stake in refineries and petrochemical projects.
ICICI Bank extended yesterday gains, rising 10% in two trading sessions
Prime Minister Modi appreciated the vision of Putin for the welfare for Russia's Far East, saying the Russian President has opened up investment opportunities for India in the region.
A preliminary deal for sale of 49 per cent in Essar Oil to Rosneft was signed between the companies in July 2015.
The surge in deal value is largely due to the $12.9 bn Essar-Rosneft deal
Moscow-based OAO Rosneft Chairman Igor Ivanovich Sechin said the agreement was to ship by sea as much as 10 million tons of oil per year to Essar Group.
'Indian diplomacy in West Asia under the present government has been a success story -- and with Saudi Arabia in particular,' says Ambassador M K Bhadrakumar.
As fuel prices surged in September, the government's decision to ask companies to cut price by Rs1 each on a litre of petrol and diesel came as a dampner for private players.
The Essar Oil, Rosneft deal also helped Arpwood Capital, boutique investment bank, co-founded by Rajeev Gupta and Raj Kataria, to grab the second spot in the mergers and acquisitions league table.
The Rs 3-trillion West Coast or Nanar refinery has all the potential to become India's flagship petrochemicals project, with the planet's largest oil producer Saudi Aramco as its biggest shareholder. Yet the locals don't see the plant as a harbinger of better times.
At $12-bn valuation, this will be India's largest FDI; deal to be announced on Saturday, says Dev Chatterjee.
An estimated 30,000 people along coastal areas will be moved to safer places in Kutch district of Gujarat from Wednesday as the very severe cyclonic storm Nilofar hurtles towards the state and slams it by November 1 afternoon.
A vilification campaign against Rosneft has begun in right earnest, says M K Bhadrakumar.
Analysts say the Essar Group has been following a policy of delisting just when its businesses begin to record substantial upside, denying shareholders their share of decent returns.
'One investor told us one leader in Gujarat had sent him to Konkan to buy land.' 'How did these people come to know about this project in advance when locals didn't know?' 'It means those who are running the country are somewhere interested in selling the country's resources to private businessmen.'
The Sensex had bounced back with gains of 94 points or 0.3%
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