The overdues of Essar group as reported by ICICI, IDBI, IFCI and the RBI totaled Rs 1,039 crore (Rs 10.39 billion), Minister of State for Finance and Company Affairs Anandrao Adsul said Tuesday.
The information supplied by concerned financial institutions says that Essar Shipping has under implementation a project for setting up facilities for handling and storage of crude oil and petroleum products.
But according to the company's balance sheet, it has transferred the terminal project to its wholly-owned subsidiary - Vadinar Oil Terminal Ltd., Adsul said in a written reply to Rajya Sabha.
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