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Essar Global Fund says repaid all of Essar Group debt
Over the past two years, Essar Group has repaid more than 1.37 trillion debt, mostly to Indian banks. Essar Steel India, which alone has a debt of 45,000 crore, is under the Insolvency and Bankruptcy Code
3 min read8 Jan 2019Nayara Energy takes RBI, ED to court over Fema
Nayara Energy, formerly Essar Oil that was acquired by Russia's Rosneft, is seeking stay on an RBI order imposing penalty for Fema violations
2 min read4 Jan 2019Essar Oil may sell 30% stake in Raniganj CBM block
Essar Oil may use proceeds from the potential stake sale in Raniganj coal-bed methane block to expand its CBM operations
2 min read30 Jul 2018Glencore, Qatar sovereign fund finalise Rosneft deal
The deal leaves Glencore with 0.5% and Qatar's fund with 4.8% in Russian oil company Rosneft
1 min read17 Oct 2017Essar Oil CEO resigns as Rosneft rejigs board on $13 billion takeover
B. Anand, CFO of Trafigura India since 2012, replaces Lalit K. Gupta as new CEO of Essar Oil and Tony Fountain, ex-Reliance Industries executive, will be the chairman
2 min read21 Aug 2017Essar Oil , Rosneft say $13 billion sale completed
Essar Group director Prashant Ruia says the group will use the proceeds from Essar-Rosneft deal to pare Rs70,000 crore of its total debt
4 min read22 Aug 2017$13 billion Rosneft-Essar deal gets crucial LIC nod
LIC approved Rosneft's acquisition of Essar Oil after Essar Group agreed to pay some of the money it owes to the insurance firm before closing the transaction
1 min read5 Jul 2017Lenders approve Rs86,000 crore Essar Oil-Rosneft deal
Essar group has crossed the last hurdle to complete the sale of its Gujarat refinery to Russia's Rosneft, with the lenders, including LIC, giving the go-ahead to the deal
3 min read23 Jun 2017Rosneft’s $12.9 billion Essar Oil deal held up over bank approval: report
Russian state oil firm Rosneft is struggling to close its $12.9 billion acquisition of Essar Oil as six of Essar's creditors have yet to approve the deal
3 min read11 May 2017Rosneft-led deal to buy Essar delayed, seen closing in April
Essar says Rosneft , Trafigura are working towards obtaining the requisite approvals to complete the transaction in next few weeks
1 min read31 Mar 2017Popular Topics
Budget
The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared