Essar Shipping Ports & Logistics on Thursday said Ravi Ruia, who is also the Vice-Chairman of Essar Group, has resigned from the company's board with immediate effect due to other commitments.
At least three companies including Essar Shipping, Videocon and Sterlite Industries on Friday bid for acquiring the government's 51 per cent stake in national flag carrier Shipping Corporation of India.
Meanwhile, with China switching its trading partners due to geo-political issues, increased trade with South Africa for bauxite and with the US for coal is also auguring well for vessels with tonne miles going up.
The overdues of Essar group as reported by ICICI, IDBI, IFCI and the RBI totaled Rs 1,039 crore, Minister of State for Finance and Company Affairs Anandrao Adsul said Tuesday.
Last June, the group had delisted Essar Energy from the London Stock Exchange as well.
'He asserted in his usual jovial style that he was not an MBA like his audience at IIM-Ahmedabad but perhaps had an even better business degree: MBB'. 'He went on to explain to his perplexed, blue chip B-School audience that MBB stood for "Marwadi by birth"!' Shivanand Kanavi salutes Shashi Ruia, co-founder of the Essar group who passed into the ages on November 25, 2024 in Mumbai.
'The coronavirus impact is much bigger than what the market had predicted. We are helpless and simply watching the market at present. Nothing can be done,' said Anil Devli, chief executive officer (CEO) of Indian National Shipowners' Association (INSA).
"Essar Steel's plate mill became the first primer plate producer in the country to be recognized for indigenous development of steel for building ships for the Indian Navy ... Company has received a prestigious order from Mazagoan Dock (MDL) to supply 13,000 tonnes of heavy plates," the company said in a statement.
Essar Steel aims to participate in the indigenisation of products used in naval defence
If there were an Olympics for bank frauds in India, Rishi Agarwal, founder and former chairman of ABG Shipyard Ltd, a nephew of the Ruia brothers of the Essar group, would bag the gold, pushing Nirav Modi to his right, says Tamal Bandyopadhyay.
At $12-bn valuation, this will be India's largest FDI; deal to be announced on Saturday, says Dev Chatterjee.
Three bidders, including the Essar group, vying for the government stake in the Shipping Corporation of India have inked the confidential information memorandum, even as uncertainty remained over the fate of the sole international bidder.
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.
YES Bank, Bank of Baroda, SBI, IndusInd Bank, and RBL Bank are amongst the banks, Jefferies says, are most prune to "high risk" emanating from ADAG, Cox & Kings, CG Power, DHFL and Essar Shipping.
.jpg)
Among other scrips, which would be shifted to the trade-to-trade segment include 3i Infotech, Bartronics India, Ramky Infrastructure and Zenith Birla (India) Ltd.
Seventeen containers on board amerchant vessel slipped off Okha West and began floating in sea prompting the Gujarat Maritime Board to sound an alert for ships approaching Gulf of Kutch, a major corridor for crude oil imports.
Iran has offered discounts on crude oil price and free shipping if India agrees to buy more of its oil.
Vishal Kampani said one of the important lessons he learnt from his father was to be humble.
Markets recovered in late trades, amid firm European cues, led by rebound in financials and gains in IT shares.
They turned a small family construction business into a conglomerate with interests in shipping, steel, oil and gas.
Essar group, which is buying out the Uganda and Congo assets of Warid Telecom -- a joint venture between the Abu Dhabi Group and Singtel and is present in Kenya, has also reportedly been sounded out by Zain shareholders. A company spokesperson, however, declined to comment on the issue.
It is not clear, however, whether the two players are considering a majority stake or would be content as investors with 26 per cent.
How a violent - and spreading - Maoist insurgency threatens the country's runaway growth
The bird was seen near the coast carried an electronic chip and an Arabic word written on its wing.
Naxal violence in Orissa has also put several investment proposals in jeopardy.
Ajit Issac started as a management trainee at Godrej.
The Finance Ministry has called a meeting of heads of public sector banks to clear stalled projects.
US sanctions against Iran kick in from November 4, which will block payment routes. Sources said India and Iran are discussing reverting to rupee trade after November 4.
"We will be guided by our national interest," he said.
India's Iran imports rise to 276,800 bpd vs 195,600 bpd in 2013.
A vilification campaign against Rosneft has begun in right earnest, says M K Bhadrakumar.
Demand is expected to grow as most customers await a drop in prices.
One of the major advantages of buying Iran crude is the additional credit period of 90 days that the country gives to India, compared to 30 days by other countries.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances