Essar Power would invest Rs 4,000 crore (Rs 40 billion) for setting up a 1,000 MW coal-fired power plant in Chhattisgarh, a senior Essar group official said in Raipur on Tuesday.
The transaction will lead to an open offer for minority holders.
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.
The British Olympic track and field legend shared his expertise on what it takes to be a long distance runner.
In a major acquisition in the telecom sector, the Ruia-controlled Essar Group on Wednesday bought a controlling stake in BPL Communications for a consideration of over Rs 4,400 crore (Rs 44 billion).
Which chief minister sat bare-footed, his feet on his chappals, at the Make In India jamboree as he pitched his state as an attractive investment destination to domestic and global investors?
Following the foray of Essel and Essar groups into the online lottery segment, another leading conglomerate Forbes Group on Friday said it will enter the segment and launch its product 'DhanDhanaDhan' next month.
Financials were the top losers after sharp gains in the previous session along with ITC
In a boost to Essar group, the Supreme Court on Monday allowed it to go ahead with its Rs 10,000 crore (Rs 100 billion) oil refinery project at Jamnagar in Gujarat.
On the second day of global investment summit in Ahmedabad, industrial groups have announced plans to make investments of Rs 12,000 crore (Rs 120 billion) in Gujarat, P K Laheri, the state's chief secretary, said on Monday.
'The web of transactions is so complex that it requires expertise to understand the strategies involved in each fraud.'
The Rs 5,700-crore Essar Group has recommenced the 12 million tonne mega refinery project in Gujarat, stalled since 1999, after tying up with financial institutions.
Experts say local demand, government policies in retail and refining sector are attracting foreign players.
The calculation excludes cross-holding of listed group cos in each other.
The cases under scanner include significant loan exposure of the bank to Videocon way back in 2012 and the alleged involvement of the Kochhar family in restructuring of that loan.
Jaypee, Essar, GMR, GVK, Lanco, Abhijeet groups debt rise despite falling cash flow, says UBS
The apex court had on December 4 last year, reserved the verdict after hearing counsel for corporate honchos and the Central Bureau of Investigation.
The court said a 'scam was created when there was none'.
Several high profile companies are burdened with losses, mounting debt and have a huge load of operational costs.
The matter was mentioned before a bench of Delhi high court's acting chief justice Gita Mittal and kustice C Hari Shankar by Additional Solicitor General Tushar Mehta. The court allowed it to be listed for hearing on Wednesday.
A PIL had sought probe into the Essar e-mail leak case.
Rosneft bought a 49 per cent stake in Essar Oil's refinery port and petrol pumps, while Netherlands-based Trafigura Group Pte, one of the world's biggest commodity trading companies, and Russian investment fund United Capital Partners split another 49 per cent equity equally.
As the WEF summit draws to a close on Saturday, a few big names from India including Mukesh Ambani and Anand Mahindra were missing in action while Pakistan Prime Minister Nawaz Sharif and Jordan's King Abdullah II were among global leaders who cancelled their trips at the last moment.
Special CBI Judge O P Saini adjourned Monday's proceedings in the wake of stay granted by the Supreme Court on separate pleas filed by Mittal and Ruia challenging the March 19 order of the trial court summoning them as accused in the case.
Within a month of the Comptroller and Auditor General of India (CAG) tabling the coal block allocation report in Parliament in August last year, the Central Bureau of Investigation (CBI) filed a First Information Report (FIR) against Hyderabad-based Navabharat Power Private Ltd for the coal block allotted to it in Odisha in January 2008.
Nokia's Chennai plant is under freeze over tax dispute.
