A fully-owned subsidiary of Essar Shipping Ltd, Essar Oilfields owns and operates 15 land rigs and one offshore semi-submersible rig. The company had reported $18 million in revenue in 2016-17.
Under the new plan, the bidder with cash balance, or bank guarantee of Rs 500 crore, will have to give a binding offer.
The debt facility will be for up to 18 months and are also additionally secured with Axis Bank shares with guarantees from the US private equity giant, sources said.
After the site was blocked by the Calcutta High Court in 2012, it came back under various iterations until recently, when IFPI reported that it was now available in its original name.
The proposed Indiabulls property will be the Hong Kong-headquartered hospitality major’s second property in London after Mandarin Oriental Hyde Park at Hyde Park in Knightsbridge.
Its huge volume growth has made the country one of the fastest-growing car markets in the world, even as other foreign players struggle.
The New York-based private equity firm, which started investing in India in the mid-’90s, has the option to take control of CAMS and increase its stake in the company to as much as 74%.
Indian Pharmaceutical Alliance secretary general DG Shah agreed that inspections could be stepped up but termed it a long-term benefit.
Modi cabinet's 'go-getter' minister Nitin Gadkari, a passionate advocate for electric vehicles, said the government wants to encourage cycling as a healthy mode of transportation.
Orchid was on the Reserve Bank of India's second list of 28 defaulters that had to be referred to the NCLT before December 31 if no resolution was found by December 13.