Deal for fully fitted apartment works out to about Rs 45,000 per sq. ft.
The statement "sends a negative signal about the certainty of India as an investment destination," an ArcelorMittal spokesperson said.
A day after reports said that the bids of ArcelorMittal and Numetal Mauritius for Essar Steel have been disqualified, resolution professional Satish Gupta has written to the stakeholders saying that the proposals are still being evaluated.
Sources told ET that post a deal between lenders and Farallon with the company, the PE investor is likely to acquire 26 percent share in Essar Steel while a consortium of banks led by SBI will get 30 percent.
Essar Oil aims to expand its petrol pump network to 5,000 over the next 12-15 months from 2,400 at present, a senior company official said.
The Curious Case Of Essar Oil!
The committee said the offer from Essar Global Fund Ltd (EGFL) 'materially undervalued' the London-listed resources company.
A panel unanimously concluded that, despite operational and Indian macro-economic challenges facing the business, a possible offer price of 70 pence per share clearly undervalues the London-listed oil and gas firm and its prospects.
A Delhi court today fixed July 8 for further proceedings in the additional 2G spectrum allocation case in which Bharti Cellular CMD Sunil Mittal, Essar Group promoter Ravi Ruia and others have been summoned as accused.
More than five months after a special CBI court framed charges against them in a case arising out of the probe into the 2G Spectrum allocation scam, Essar Group promoters Ravi and Anshuman Ruia today moved the Delhi High Court against the trial court's order.
The promoters of Essar Tele – Ravi and Anshuman Ruia and their relatives Kiran and IP Khaitan have asked the trial court to return their passports, reports CNBC-TV18's Malvika Jain.
The CBI has issued fresh summons to the Ruias and Khaitans in the Loop-Essar controversy in the 2G scam.
Leading industrialist and Essar Group Chairman Shashi Ruia has warned of an adverse impact on FDI inflows in India if its taxation laws remain "ambiguous".