Companies

Chairman Ravi Ruia quits Essar Energy

Ravi Ruia  

Essar Energy Chairman Ravi Ruia on Wednesday announced his decision to step down from the post amid CBI (Central Bureau of Investigation) claiming that the Essar group suppressed facts related to its equity holding in Loop Telecom, an allegation denied by the conglomerate.

The Essar Group is surprised and disappointed by the stand taken by the CBI, Essar Energy said in a statement.

Meanwhile, Ravi Ruia has voluntarily decided to temporarily step aside as Chairman but would continue as a director of Essar Energy.

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Printable version | Mar 7, 2021 11:54:35 PM | https://www.thehindu.com/business/companies/chairman-ravi-ruia-quits-essar-energy/article2735749.ece

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