Ruias make Rs 54k cr bid to retain Essar Steel

The Ruias on Thursday mounted a stunning last-ditch 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 allowing the company to exit the bankruptcy process. Indications are that they might be willing to go up to Rs 60,000 crore.

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