Tag: Essar Steel

Paradip: Members of Essar Steel India Workers’ Union today staged protest in front of the plant demanding minimum wages and other benefits like Employees’ Provident Fund (EPF) and Employees’ State Insurance (ESI). The protesting workers alleged that despite protests since long, the authorities have not taken any steps to address their concerns. “Most of the […]

Paradip: The protest at Essar Steel India Limited in Paradip entered its second day today and neither the local administration nor the company management has taken any step to resolve the issue. Surprisingly, the protestors began their agitation on Wednesday evening even though Section 144 has been clamped in front of the company gate. “We […]

Bhubaneswar: Essar Steel has emerged as the successful bidder in the first e-auction of iron ore block in Odisha, upstaging strong contenders like Tata Steel, Jindal Steel & Power Ltd (JSPL) and JSW Steel. “We had notified for the e-auction of Ghorhaburhani-Sagasahi iron block on 23rd December last year against which seven parties had submitted […]

Ahmedabad: The Gujarat High Court on Monday dismissed Essar Steel’s writ petition challenging the RBI directive to a consortium of banks led by the SBI to initiate insolvency proceedings against the company for its high non-performing assets. Justice S.G. Shah issued an oral order stating that no relief could be granted to the steel major. […]

Odisha government has issued a Letter of Intent (LoI) to Essar Steel after it emerged as the successful bidder in the first e-auction of iron ore block in the state, an official said today

Ahmedabad: The State Bank of India on Monday filed a recovery suit against Prashant and Ravi Ruia, before the Debt Recovery Tribunal (DRT) here in Gujarat. Essar Steel Lenders led by the SBI are saddled with dues of over Rs 63,000 crore, including overdue interest and penalties. The SBI will receive only a part of its […]