Why ex-promoters are stuck on their bankrupt firms
Ever since India’s bankruptcy law came into being, several businessmen have sprung up with ‘eye-popping’ offers for their fallen stars at the risk of delaying the insolvency process.
ruias
June 2021
January 2019
October 2018
Essar Group repays over 80% of its debt
The group has repaid more than ₹1,37,000 crore of loans to global and Indian lenders. Its only continuing lender is now Russia’s VTB Group.
Ruias throw the kitchen sink to regain Essar Steel
With the corporate insolvency resolution process for the steelmaker entering its final leg, the company’s promoters offer to clear all dues to retain control.
