Mesabi Metallics, the former Essar Minnesota project that filed for bankruptcy in July 2016, is now under the control of Chippewa Capital Partners. The Chippewa Capital Partners consortium bid won the auction for the equity stakeholder position in bankruptcy court this week. The winning consortium bid includes a Liberty House interest. SPL Advisors
Essar Steel Minnesota’s Chapter 11 Bankruptcy – Another Victim Of The Chinese Steel Industry
According to Forbes, Essar Steel Minnesota went into Chapter 11 bankruptcy on Friday as the State of Minnesota withdrew the state licences for the taconite the company was preparing to mine. It might seem a little odd that an Indian owned mine in Minnesota will go out of business as a result of the Chinese steel industry slowing down but that [&hel
Bharti and Vodafone offices raided as part of Indian spectrum favouritism probe
India’s Central Bureau of Investigation (CBI) raided the premises of local operators Bharti Airtel and Vodafone Essar over the weekend as part of a widening probe into alleged irregularities in spectrum allocation made under previous governments. Reuters reports that the CBI has registered cases against the two operators and two former telecoms min
SANJEEV NANDA HIT AND RUN CASE
Case note: seven people were hit by a black BMW car in Delhi on Jan 10, 1999. The initial testimonies and a 30-minute film recorded next morning led the police to conclude that hit-and-run was caused by three young drunk men. These three people were Siddhanth Gupta, Manik Kapoor and the alleged driver Sanjeev Nanda, […]
2G scam: CBI quizzes Essar Group CEO Prashant Ruia
Continuing with its probe into the 2G scam, the CBI today questioned Essar Group CEO Prashant Ruia in connection with the alleged role of the company in conniving with Loop Telecom to get licences in an illegal manner in 21 circles in January 2008. His questioning comes a day after ADAG Chairman Anil Ambani was […]