The Ruias on Thursday mounted a stunning lastditch effort to retain the flagship Essar Steel within the family. Led by brothers Shashi and Ravi, they offered Rs 54,389 crore to lenders for settling all claims and allow the company to exit the bankruptcy process. Indications are that they might be willing to go up to Rs 60,000 crore.
The Ruias on Thursday mounted a stunning lastditch effort to retain the flagship Essar Steel within the family. Led by brothers Shashi and Ravi, they offered Rs 54,389 crore to lenders for settling all claims and allow the company to exit the bankruptcy process. Indications are that they might be willing to go up to Rs 60,000 crore.
