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March 31, 2015 5:26 PM ET

Industrial Conglomerates

Company Overview of Essar Global Holdings Limited

Company Overview

Essar Global Holdings Limited, through its subsidiaries, operates in steel, oil and gas, power, infrastructure, shipping, business process outsourcing (BPO), telecom, and real estate businesses. It produces steel products, such as pipes and plates for automotive, white goods, construction, engineering, and shipbuilding sectors. The company also provides cold rolling, galvanizing, and pre-coated services; and operates iron ore and coal mines. Additionally, it explores, produces, refines, and markets oil and gas including LPG, naphtha, light diesel oil, aviation turbine fuel, and kerosene. The company operates oil retail outlets. Furthermore, it offers power generation services. The company’s ...

Essar House

11, Keshavrao Khadye Marg

Mahalaxmi

Mumbai,  400034

India

Founded in 1969

Phone:

91 22 6660 1100

Fax:

91 22 6660 1809

Key Executives for Essar Global Holdings Limited

Managing Director, Group Chief Executive Officer and Director
Age: 44
Chief Financial Officer
Managing Director of Essar Steel India and Chief Executive Officer of Essar Steel India
Managing Director of Essar Oil Ltd. and Chief Executive Officer of Essar Oil Ltd
Age: 54
Chief Executive Officer of Telecom Business Group and Director
Age: 54
Compensation as of Fiscal Year 2014.

Essar Global Holdings Limited Key Developments

Adani Ports Is Reportedly In Talks To Acquire Essar's Ports Business

Adani Ports and Special Economic Zone Limited (BSE:532921) is said to be in talks with Essar Global Holdings Limited (Essar Group) to acquire its ports business. According to multiple sources in the know, early stage discussions have been ongoing between both sides and may soon progress to a formal diligence. When contacted, the Essar spokesperson denied about any ongoing negotiations with Adani, reported Economic Times, "Essar Ports owns strategic port assets which are integrated with Essar's other key businesses like Essar Steel, Essar Oil and Essar Power. We deny your information and it is not our policy to comment on market speculation."

Essar Group Faces Public Interest Litigation

A Public Interest Litigation has been filed in the Supreme Court against the Essar group after an internal source leaked the company's correspondence and exchange of communication favoring powerful and influential. A whistleblower has leaked inside information revealing the names of senior politicians including Union Minister of Road Transport and Highways Nitin Gadkari, former Coal Minister Sriprakash Jaiswal and senior Congress leaders Digvijay Singh and Motilal Vora. Email communication leaked by the source also mentioned Essar group's resources being at the disposal of prominent journalists and bureaucrats. The 25-page PIL has been filed by eminent lawyer Prashant Bhushan.

Essar reportedly shows interest in Nokia's Chennai plant

Essar Global Holdings Limited has shown interest in taking over Nokia Corporation (HLSE:NOK1V)'s mobile handset manufacturing plant near Chennai, which has been frozen over tax claims. According to sources close to the discussions, it is not clear what Essar’s plan is because the group does not manufacture mobile devices. Its only interest in telecom is through The Mobile Store, a cellphone retail chain. A query to the Essar group spokesperson went unanswered and Tamil Nadu government officials were not available for comment.

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