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Govt snubs as Essar’s woes spill over

DNMUM402294 | 12/4/2017 | Author : Anto T Joseph | WC :575

Who doesn’t like a curve

There is no let-up for Essar Group. The group that fought many a bruising battle over the last few decades continues to count its misfortunes. Essar House, the imposing headquarters of the group that stood witness to a multitude of Derbies at the Mahalakshmi Racecourse, just a stone’s throw away, now watches in dismay its own unfinished race. As horses gallop for their day in the sun, the Indian multinational giant is feeling `abandoned’ among the laggards.
The global recession of 2008 wasn’t exactly the fountainhead of its woes. Controversies and rivalries were always part of the group, since its inception. The collapse of export markets and commodity prices in the aftermath of the downturn rattled the group.
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