"In the last three years, I think we were the first to get off the block and actually take some decisive steps towards reducing leverage," Prashant Ruia said
Essar Ports is one of India's largest private sector port and terminal developers and operators.
A bench headed by Justice R F Nariman said the monitoring committee will continue its work till the case is heard on August 7.
EOGEPL had in August signed a 15-year contract to supply the block's entire gas production to GAIL, Essar tweeted.
ArcelorMittal is believed to have picked up expression-of-interest documents for the EPC Construction bid last week.
The firm, which got delisted in 2015 and is among the handful of companies retained by the Ruias after the sale of oil business and bankruptcy of steel arm, clocked a revenue of USD 190 million in FY18, against USD 145 million in FY17.
Besides Ruias, the CBI has also filed appeal against the acquittal of promoters of Loop Telecom Ltd I P Khaitan and Kiran Khaitan, Essar Group Director (Strategy and Planning) Vikash Saraf and three telecom firms - Loop Telecom, Loop Mobile India and Essar Tele Holding.
This is his second stint with Essar -- he was affiliated with Essar Energy for many years in his previous stint.
The group had announced in 2016 that it would sell the property to realty firm RMZ Corporation, but the deal could not be concluded.
Rajiv Agarwal, Essar Ports chief executive and managing director, said the investment will be completed over the next two-and-a-half years and will take its cargo capacity to around 150 million tonnes per annum (mtpa) 110 mtpa that it will be ending FY18 with.
Besides Ruias, the court also acquitted Vikash Saraf, one of the Essar Group Directors, Loop Telecom Promoters I P Khaitan and Kiran Khaitan, three companies-- Loop Telecom Ltd, Loop Mobile (India) Ltd and Essar Teleholdings Ltd.
The company announced the conclusion of the Rs 2,000- crore sale of Aegis to Capital Square Partners (CSP), marking its exit from the business process outsourcing (BPO) business. Earlier, it had concluded a USD 13 billion deal to sell its oil business to Russia's syRosneft.
Essar Oil (UK) Ltd Chief Executive S Thangapandian said announcement of fresh investments of USD 250 million in upgrade and expansion of Stanlow shows the group's commitment to stay invested in the sector.
A day after closing India's largest foreign direct investment (FDI) deal, Prashant Ruia, the Chairman of Essar Group clarifies on key contours of the deal. In a candid admission to CNBC-TV18, Ruia says he is confident of providing resolution plan for Essar Steel.
With this Rs 86,000-crore transaction, which makes it the largest FDI inflow for the country, the company hopes to close the deal by early next month, Essar group sources said.
The EPC company has completed and commissioned 10 projects worth Rs 2,862 crore during the previous fiscal and clocked revenues of around Rs 2,000 crore, it said in a statement.
Essar Ports Ltd in consortium with Ultra LNG and Essar Shipping Ltd won the bid to build and operate the LNG receipt and storage facility for 30 years, sources privy to the development said. Petronet LNG Ltd and V Energy were other bidders for the project that would have a minimum guaranteed traffic of 0.2 MTPA.
Essar had in July 2014 sold Aegis USA Inc, an outsourcing and technology company with operations in the US, the Philippines and Costa Rica, to Teleperformance of Paris for USD 610 million.
Essar Group today said that India needs to re-evaluate free-trade agreements with many countries, including Japan and Korea, that are hurting domestic steel manufacturers by allowing duty-free imports.
Rosneft deal will be closed by March 2017 and banks will receive their dues around the same period as the deal closure, said Prashant Ruia, CEO, Essar Group.
The park, which was till now operated by Equinox Realty, the real estate arm of Essar, will now be renamed as RMZ Equinox Business Park, the company said in a statement here.
Rapidly becoming an influential market for mergers and acquisitions (M&As) in Asia-pacific region, India hit a record level in this space with 388 deals worth USD 64.5 billion during 2016, said a report.
In a shot in the arm for the debt-laden Essar Group, American hedge fund Farallon Capital has come forward to offer a 'bridge equity' of about Rs 1500 crore, reports The Economic Times.
Within days of Essar Group signing a mega USD 12.9-billion asset sale in its oil business, three top lenders -- ICICI Bank, Axis Bank and StanChart -- have got back an estimated USD 2.5 billion as part of the first payment for their debt exposure to the Ruias-led conglomerate.