HOW THE RUIA COOKIE CRUMBLED

THE GROWTH STAGE

2017-07-02 -

1990-92:

Essar enters steel and power business

1995:

Launches mobile phone services in Delhi (Essar Cellphone) with Swiss PTT

THE FIRST FALL

Jul 1999:

Essar Steel defaults on Floating Rate Notes worth issued to foreign investors $250 million

Oct 2002:

Essar Steel goes into CDR