rewant ruia yacht

Billionaire Scion Rewant Ruia’s At Home Wedding, After Party at ‘Surprise’ Destination

Celebrity News , Destination Weddings - Mar 3, 2020

Where do Mumbai’s billionaire families like the Ambanis, Godrejs, and Ruias host their traditional wedding festivities? At the sprawling Turf Club or the iconic Taj Mahal Palace in South Mumbai? While these continue to be the top spots for pre and post-wedding celebrations, the venue for the main wedding function is usually their own magnificent homes. Like it was for Rewant Ruia, son of noted industrialists Madhu and Ravi Ruia, who got married at their spectacular five-storied sea-facing home in Walkeshwar.

Rewant Ruia and Karishma Choraria Essar heir Rewant married London-raised Karishma Choraria, whose father is a Marwari and mother, a Norwegian. The duo met in London, and their formal engagement took place at the Taj Falaknuma Palace , in Hyderabad. In Mumbai, the Ruias and Chorarias chose to host all the wedding celebrations between the statuesque Choraria family bungalow at Worli Sea Face and the Ruia brothers’ (Ravi and Shashi) home in Walkeshwar.

Photo Courtesy: Instagram

The Ruia Home – Venue for the ‘Wedding of all Weddings’ The Ruia’s South Mumbai wedding was made even more special as their sea-facing mansion was decorated with thousands of diyas that lit up the night sky. The same was the case when Rewant’s elder sister Smiti tied the knot in 2008, in what was described as the ‘Wedding of all Weddings.’ The media reported about how the world descended at the Ruia house in Mumbai, where highlights included a specially built deck overlooking the sea, a musical fountain flown in from abroad, and live performances by Richard Marx and Gypsy Kings.

Alpha Tycoons, Social Niceties, and Weddings What was interesting to note at Rewant Ruia’s wedding, as Society Columnist Malavika Sangghvi wrote, was the presence of so many business competitors of the Ruias. “Steel baron LN Mittal, who was once locked in a legal battle with the Ruias, walked in with wife Usha and son Aditya. Sajjan Jindal, the other steel tycoon also involved in a bruising battle, had attended both functions along with wife Sangita. The presence of Mukesh Ambani and Sunil Mittal – both principal competitors of the hosts in the highly combative telecom space – only emphasized the fact that when it comes to social obligations and niceties, even alpha tycoons could set aside their arsenal”. However, Malavika adds, “This might not be the case in political circles. According to a guest, even though both the former Maharashtra chief minister Fadnavis and the current one Thackeray had been present for Saturday’s reception, they had managed to avoid coming face to face with each other.”

Post Wedding Party at a New, Luxurious Destination While the rich and famous celebrate new beginnings with a host of pre-wedding parties, a billionaire wedding is now incomplete without a big after-party, with a guest list of 300 to 900 people, at an international locale. Mumbai is now talking about the ‘Party of all Parties’ which the Ruias will be hosting at a surprise international locale, the venue for an Indian wedding party for the first time ever. According to one guest, “Over 300 guests will be ferried by chartered flights for the three-day party, organized by the Ruia family offices, at a destination three hours away from Mumbai.” Can you guess what that party place could be? All we can share right now, is that it is an astonishingly regal and opulent venue – some would say it is even beyond a billionaire’s influence to visit or book! Could it be the new playground for the super-elite? Could it be the new playground for the super-elite? Watch this space for more details!

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Tags: billionaire wedding , Celebrity Wedding , Essar scion , Karishma Choraria , Madhu Ruia , Ravi Ruia , Ravi Ruia's son , Rewant Ruia , Ruia House , Ruia wedding , Smiti Ruia

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SUNRAYS Yacht – Exquisite $150M Superyacht

The $150 million superyacht features an interior design by Terrence Disdale, with an exterior penned by Bjorn Johannsson.

The yacht is at the forefront of comfort and luxury and was delivered in 2010 from the Oceanco shipyard.

SUNRAYS yacht interior

English designer Terence Disdale penned the interior design of the SUNRAYS yacht. The interior has an abundance of space with amenities that provide a luxurious yachting experience for guests.

The interior is refined and opulent, with a dedicated dance floor, spa, and beauty salon with various treatments available.

The pampering doesn’t stop there; a steam room, a plunge pool in the sun, and a well-equipped gym are available on board.

The deck jacuzzi allows guests to soak up the bubbles in style. The beach club is an impressive feature of the yacht opening onto the water for fun in and out of the water. SUNRAYS features a spacious pool onboard.

The entrainment continues with the extensive toys on board the superyacht. There is a wide selection of action-packed toys for guests to choose from, from waterskis, scuba diving equipment, wakeboards, kayaks, and wave runners.

She is truly the best combination of luxury and action-packed adventure on the water. Details on board the yacht that gives her a luxurious feel are a glass and stainless steel cylindrical elevator.

There is accommodation for 12 guests in 9 suites. The rooms consist of a master suite, three VIP cabins, two double cabins, and two twin cabins.

Accommodation for 27 crew members allows the yachting experience to be the height of luxury.

The exterior of the SUNRAYS yacht was designed by Bjorn Johansson , with inspiration taken from his earlier award-winning design for the yacht Mirage.

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She was built by Oceanco and delivered in 2010. She underwent a refit in 2018. The exterior also features impressive underwater lights that illuminate her throughout the night.

Specifications

The 85.5m yacht has a beam of 13.8m and a draft of 3.95m. SUNRAYS has a volume of 2867 gross tons and is powered by twin MTU engines.

She has a cruising speed of 14 knots and reaches a maximum of 20 knots.

SUNRAYS features anchor stabilizers that provide exceptional comfort levels for guests by reducing the rolling motion of the yacht on the water.

She has a range of 6000 nautical miles. The $150 million vessel has an annual running cost of $10 – $15 million.

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Rewant Ruia joins Essar Shipping

Rewant ruia, the 23-year old son of vice-chairman ravi ruia, has been inducted as additional director on the board of essar shipping, reports suprotip ghosh..

It’s succession time at the Ruia-run Essar Industries. Rewant Ruia, the 23-year old son of vice-chairman Ravi Ruia, has been inducted as additional director on the board of Essar Shipping. The Essar Group made this announcement to the Bombay Stock Exchange on Monday.

Rewant Ruia is the youngest member in the family of promoter-directors of the Essar Group. The group is one of India’s largest corporate houses with an asset base of $6 billion with interests spanning core infrastructure, and of late, the consumer sectors of the economy. The new additional director is said to be given charge of the company’s flagship shipping business, Essar Shipping, and is being groomed for that purpose. Rewant’s sister Smiti is already a director on the board of the group and runs the family’s publishing business.

Rewant has been involved with managing the group’s telecom assets and been spearheading the new ventures into telecom, oil and steel retail. He has also been part of Essar’s drive to go international with new steel plants.

Company chairman Shashi Ruia’s sons are already well established in the business. Thirty-seven year-old Prashant Ruia looks after the group’s manufacturing business. He is the oldest serving member from the second generation. His brother, Anshuman, controls part of the services business, the group’s telecom venture.

Rewant completed high school education from the Hackley School in Tarrytown, New York, and did his Bachelors in Business Administration from Bentley College, Boston. The youngest scion of the Ruias began his formal career with the group in mid-2005. After a few months of studying each of the group’s businesses, he has been focusing on the telecom space, retail and new business development.

Besides this, Rewant is actively involved in Group Positioning, Strategy and Brand Management practices across group companies.

Email Suprotip Ghosh: suprotip [email protected]

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Numetal Ready to Buy Out Rewant Ruia; Claims Their Bid For Essar Steel Fully Legit

Edited By: Tarun Bhardwaj

Last Updated: March 15, 2018, 23:07 IST

Logo of Ruias-led Essar Group (Image: Reuters)

The shareholders of the Mauritius-based Numetal, a special purpose vehicle that focuses on steel and infra space along with manufacturing, are VTB Capital, the private equity arm of the Russian state-owned VTB Bank; Russian steel and engineering major TPE.

Mumbai: Numetal, the SPV floated by private equity arm of Russian lender VTB Bank and Rewant Ruia, a Ruia family member, has claimed that its bid for Essar Steel has "solid legal backing" and if need be, "the other shareholders will buy out Rewant's" 25 percent stake in the company.

Other promoters are Indo International, a Dubai-based steel trading firm promoted by an NRI, and the Aurora Trust in which Rewant Ruia, the son of one of the Essar Group promoters Ravi Ruia, is a beneficiary and owns 25 percent in Numetal.

VTB Capital owns majority in Numetal. "If public perception is a challenge because of Rewant Ruia's minority stake in Numetal, we're ready to change that," Antoine Chemali, a senior advisor at Numetal Mauritius, told PTI here this evening.

"We've already spoken to him (Rewant Ruia) and are ready to do whatever it takes us to win the Essar Steel bid. We, the rest of the shareholders, are ready to buy out his minority stake from Numetal," he added.

But Chemali was quick to point out that Rewant does not have any say in the management of Numetal or enjoys a board representation. "He is just a minority shareholder," he said without quantifying his stake.

Numetal and ArcelorMittal are the only two bidders for the almost 10-million tonne Essar Steel assets at Hazira, which has defaulted on more than Rs 45,000 crore of bank loans from and is currently at the NCLT for bankruptcy resolution.

Numetal and ArcelorMittal have put up their bids on February 12 to the NCLT, and are battling with each other for the steel asset and are faced with questions on the eligibility of their bids.

Bids of both the companies are being evaluated by the resolution professional, risk and financial advisory Grant Thornton and law firm Cyril Amarchand Mangaldas. An Essar Group official told PTI that Rewant Ruia had resigned from the board of Essar Steel way back in 2012, and thus in no way is related to Essar Steel promoters.

It can be noted that both bidders have threatened to challenge National Company Law Tribunal and resolution professional at higher courts if their bids were rejected. This forced government to recently hint that it's amenable to make more changes to Section 29 of the IBC to redefine "connected/related parties" to exclude only original promoters who are defaulters from bidding for an asset that has gone to the bankruptcy courts.

While Numetal has claimed that ArcellorMittal is not eligible to bid as their India joint venture Uttam Galva is a defaulter and is in NCLT now, the world's largest steel major made the same allegation against Numetal because of Rewant's investment in the SPV company.

Chemali further claimed their bid for Essar Steel has solid legal backing, saying there is nothing in the law that can make their bid ineligible. "From the point of view of law, we are fully eligible to bid for Essar Steel and there is legally nothing that can disqualify us from bidding. That's what our lawyers have told us. We've a strong legal backing for our bid and we are fully compliant with all the laws and we will not do anything that's against the laws of the land," said Chemali.

He also said they have submitted a very good revival proposal which has two-pronged strategy-to streamline and maximise production at the 9.7-million tonne plant that is now running at around 60 percent.

"So, our bid involves an upfront cash payout which is the bid amount, and an offer to pump in as much working capital as needed to run the plant for our first priority is to optimise the capacity level in the shortest possible time.

"The second part of our offer is to invest more in the company for expansion because we are very optimistic about the growth story of the steel sector here," explained the head of Numetal India, Chandra Shekar Verma, who retired as the chairman of state-run steel major Sail.

"Shareholders of Numetal are well-versed in the steel sector apart from the infra and other key manufacturing areas and we are very serious that we get to own Essar Steel when the resolution process gets over by April 29," Chemali said. Comments assume importance as there are reports that government is looking at further amending IBC to distinguish between promoters of defaulting firms that don't have a managerial role, from those who also manage stressed assets.

As per media reports, the corporate affairs ministry is believed to be considering two amendments to change the definition of "connected people" as per the IBC.

As of now, a promoter or investor in a defaulting company is not eligible to participate in the auction of stressed assets referred to the NCLT.

According to the IBC, bids should be presented to the committee of creditors at least a month before the deadline which in the case of Essar Steel is April 29. And Chemali said they have not met the creditors but expressed the hope that they will be able to meet the deadline.

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Youngest Essar scion prepares $6bn all-cash bid to retain family steel biz

The report adds that an all-cash offer is likely to attract more attention for the lenders as competing offers are expected to have less cash component..

Mumbai : Essar co-founder Ravi Ruia's son is all set to bid $6 billion in cash to retain the family steel business. It has been learnt that a consortium, led the youngest Essar scion Rewant Ruia, is set to make an all-cash offer of $5-6 billion (approximately Rs 33,000 crore to Rs 40,000 crore) in order to retain Essar Steel. Nu Metal Corporation, led by the Rewant Ruia and backed by Russia's VTB as the largest stakeholder (40%), faces stiff competition in the bidding process from Arcelor Mittal and Nippon Steel, reports The Times of India.  

The report adds that an all-cash offer is likely to attract more attention for the lenders as competing offers are expected to have less cash component. With over Rs 45,000 crore in debt to lenders, the company is in the middle of a turmoil but the Ruias would be aiming to stabilise the situation after placing a successful bid next week.  

It may, however, be noted that a second Russian investor - an arm of Bain Capital - is expected to step in after Hong-Kong based SSG Capital pulled out of the Ruia-led consortium. While the consortium partners will be finalised soon, VTB is likely to take up the spot as it has strong business ties with the Ruias, apart from playing a key role in the sale of Essar Oil to Russia's Roseneft.  

A $3 billion financing is expected from VTB and its allies to help Ruias place the all-cash offer. Essar, however, has declined to comment on the development. As mentioned earlier, the bids for Essar Steel will open next week, with several bigwigs in the industry eying the coveted entity.  

From Tata Steel to Vedanta, several are expected to make lucrative offers. The Ruias are willing to spend such a huge amount on saving the steel business as India's metal market is predicted to almost triple to 300 million tonne-per-annum by the end of the next decade.  

The report also highlights that Rewant and his brother Shashi Ruia will hold at least 26 percent in the consortium. Some other stakeholders of the Nu Metal Corporation include former SAIL chief SC Verma, an ex-RBI official, and a few core group executives. The consortium structure gives the Ruias to complete the auction process in a seamless manner, without violating certain rules that bar defaulting promoters.  

It will also help the family steer clear a requirement where promoters must clear pending dues to be eligible to bid for their own assets. The report further adds that the bid will have to pass scrutiny of the insolvency board. 

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• Previously CEO of Nuclear Decommissioning Authority and CEO Refinery & Marketing, Reliance Industries
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Prashant Ruia – Chief Executive Officer

• Over three decades of entrepreneurial & leadership experience at Essar
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Jatinder Mehra

Vice Chairman & Operating Partner, Metals & Mining

Jatinder Mehra is the Vice Chairman & Operating Partner of Essar Capital. With more than 50 years of experience, he guides Essar through transformations, manages operating functions and leads complex projects.

Mr Mehra is involved in various Essar initiatives in areas of Business Strategy, Investments, Corporate Governance, Risk Management and Sustainability.

Prior to joining Essar Capital, he lead several reputed public sector and private steel companies, including Steel Authority of India Limited and Rashtriya Ispat Nigam Limited as their Chairman and Managing Director.

Vikash Saraf

Vikash Saraf is the non-executive director of Essar Capital.  He has over 25 years of work experience in the field of M&A and Transactions.

He joined Essar in early 2000 and has played a key role on strategic investments of Essar in core economy and infrastructure sectors. Vikash is also a member of the Management Committee of Essar Capital.

Prior to joining Essar Capital, Vikash was an Executive Director and CEO of SSKI Corporate Finance Ltd, a boutique investment bank specialising in infrastructure financing and advisory.

Dhanpat Nahata

Dhanpat Nahata is the General Partner, Strategy and Risk, at Essar Capital. With over 20 years of experience in the field of M&A and transactions, he leads all the M&A structuring on complex transactions globally for Essar Capital. He is a part of the Management Committee of Essar Capital.

Prior to joining Essar, he was associated with EY as a Partner for 11 years.

Haseeb D rabu

Haseeb Drabu is an economist with over 30 years of experience with diverse skill-sets and wide-ranging experience as a lawmaker, policy planner, banker and an economic commentator.

He has worked as an Economic Advisor, and the principal economic policy maker at the state level for seven years. He was chairman and chief executive of J&K Bank for five years. In his avatar as editor of a business daily, he also made his mark as a widely respected and incisive columnist on macroeconomics, fiscal and monetary policy.

Badrinath Durvasula

Managing Director, Legal, Energy

Badrinath Durvasula joined Essar as the Managing Director, Legal, and oversees and advises the legal function for the Energy, Services & Technology sectors.

Badrinath is a seasoned legal professional with over 29 years of core experience in implementing legal policies for corporates in the manufacturing, oil & gas and services sectors. He has a strong professional record in streamlining litigation, M&A, turnkey contract management, IPR, project financing, international arbitration and compliance support. Prior to joining Essar, he was the Vice President and General Counsel at Hindustan Construction Company Ltd. He has held several leadership positions at Adani Group, Larson & Toubro Ltd, Binani Industries Ltd. amongst others.

Thangapandian Srinivasalu

Advisor. Energy

Thangapandian Srinivasalu currently serves as the Advisor for investments in the Energy sector at Essar Capital. He was the Chief Executive Officer and Board Member at Essar Oil UK Limited.  Previously Group Director at Gulf Petrochem, he is an oil and gas professional with around 35 years of experience in sales, marketing and trading of petroleum products in India, the Middle East and Nigeria with Public Sector Undertakings, Multi-National Companies and private sector companies.  He also worked at Essar Oil Limited, India, as CEO – Marketing & IST, and was responsible for Retail Sales, Direct Sales, Retail Network Expansion, Sourcing Crude, Trading of Petroleum Products and Supply & Distribution in India and Kenya.  He established PetroFina in India and was part of the team that launched Gulf Oil in India post opening up of the market.  Having started his career with HPCL, he worked with National Oil Nigeria, Reliance Industries Ltd., TotalFinaELF and Gulf Oil India.

Sanjay Palve

Sr. Managing Director, Finance, Infra, Tech & Retail

Sanjay Palve is the Sr. Managing Director, Finance, Infra, Tech & Retail, at Essar Capital. He is responsible for capital raising, financial performance improvement, risk monitoring and corporate banking. Sanjay is a seasoned professional with more than 22 years of stellar experience in building and leading large financial businesses across wholesale and retail segments.

Prior to joining Essar, he was the CEO of Religare Finvest Limited (RFL) and the Managing Director of Religare Housing Development Finance Corporation (RHDCL). He has held key leadership positions at YES Bank Ltd. and ICICI Bank Ltd. Recently, he was also awarded ‘Business Leader of the Year’ in the NBFC segment by ET Now.

Raj Varma is an Advisor, at Essar Capital. He joined Burmah Shell in 1957, also known as Bharat Petroleum Corporation Ltd after it was nationalised, and retired from it as director marketing. He also served as a member on the Boards of Bharat Shell, and was the managing director of Bharat Oman Refineries Ltd. After a brief stint with Reliance Industries as its advisor, Varma joined Essar Oil as its CEO, Marketing, in 1999.

Rajiv Agarwal

Operating Parter, Infrastructure & MD & CEO, Essar Ports

Rajiv Agarwal is the Operating Partner, Infrastructure, at Essar Capital and Managing Director, Essar Ports.He has over 30 years of experience and has held leadership positions in sectors such as Ports, Shipping, Telecom, Retail and Business Processing Outsourcing.

He was appointed as MD & CEO of Essar Shipping, Ports & Logistics Limited in 2010.

He Joined Essar in 1997 as COO in Essar Telecom and was the Executive Director of Essar Shipping Limited from 1998-2002. He has been a key member of several industry committees like Confederation of Indian Industries, Federation of Indian Commerce Industries, The Associated Chamber of Commerce & Industry of India and SUPERBRANDS for several years.

Rakesh Kankanala

Managing Director, M&A, Infrastructure

Rakesh Kankanala is the Managing Director, Managing Director, M&A, Infrastructure, of Essar Capital. An MBA from IIM Lucknow, Rakesh is a qualified Engineer from NIT, and brings with him 13 years of experience. Prior to being the Managing Director at Essar Capital, Rakesh has been at leadership positions in Essar Ports. Earlier on he has worked with TCS in the beginning of his career.

Deepak Sogani

Managing Director, Finance, Metals & Mining

Mr Deepak Sogani joined ESSAR in August 2020 as Managing Director – Finance, Essar Capital, the investment manager for Essar Global Fund Limited (‘EGFL’). He is responsible for capital raising, financial performance improvement, risk monitoring and corporate banking for Infrastructure. Mr Sogani helps manage Essar Capital investments in the portfolio companies of metals & mining sector.

Mr Sogani, who was the Group CFO of Jindal Steel & Power Limited, has over 25 years of experience specialising in areas of business and financial management with special focus on strategy, M&A, business/corporate development, business restructuring, corporate finance, capital markets, investor relationship, governance and operations. He has significant experience of managing strategic transactions, acquisitions and raising capital across industries including Financial Services, Information Technology and Manufacturing (Cement, Sugar, Refractories, Power, Renewable Energy, Steel & Healthcare).

Education Qualification:

• PGDBM, IIM A

Firdose Coovadia

Advisor, Metals & Mining

Firdose Coovadia is an Advisor, Metals & Mining, at Essar Capital. He has over 28 years of experience in investment banking, private equity, audit and investment in a variety of institutions including KPMG and UBS Warburg.

Firdose has extensive experience in emerging markets, having been involved in advising governments, parastatals and companies in Africa, India, Europe and the Middle East. He has played an integral role in many landmark private equity transactions and has also managed many regional and global private equity funds.

Leveraging his extensive business network, Firdhose has also played an active role in assisting portfolio companies with business development and cross-border transactions or business relationships across Africa, the Middle East and Asia. His experience spans several sectors including mining and natural resources, telecommunications, business process outsourcing, infrastructure, healthcare and manufacturing.

Madhu Vuppuluri

Operating Partner, Metals & Mining

Madhu Vuppuluri is the Operating Partner, Metals & Mining, Essar Capital. With over 27 years of work experience in diverse industries ranging from Manufacturing (Metals, Mining & Power Generation) to Services sectors (Commercial Airline and Technology, inclusive of Business Process Outsourcing sectors), he provides strategic direction to the management of the Mesabi Portfolio. Madhu’s expertise lies in the area of mergers & acquisition, fund raising, investor relations, and operations management, and leads future capital investment recommendations to Essar Capital’s Board of Directors.

Naushad Ansari

Managing Director, Business Development, Metals & Mining

Mr Naushad Ansari is Managing Director, Business Development, at Essar Capital. He would be responsible for advising and leading the company with regards all investments and opportunities in the metals & mining sector.

He is an experienced professional and an industry veteran, with 33 years’ experience with Tata Steel and 11 years with Jindal Steel & Power. He is a strong business development professional with a Mechanical Engineering Degree from Aligarh Muslim University.

Toker Ozcan

Toker Özcan is as an Operating Partner, Metals & Mining. Toker forms part of the senior leadership team at Essar Capital and is responsible for critical decisions and strategic directions with regards its investments in the Metals & Mining sector.

He has over 28 years of experience in Metals, Mining and Energy sectors and was responsible for Turkey’s first investment in Protection and Armor Steel Production. He has also led production and operations hub in 7 countries (Turkey, USA, China, Brazil, Austria, United Kingdom, Australia). In his last assignment with Oyak Mining and Metallurgy Group, he managed 9.3 million tons of liquid steel production.

Toker has held key leadership positions at SASA Poly. San, İSDEMİR. He is on the Board of Miilux OY, Akdeniz Kimya and OYAK Mining and Metallurgy Group.

Srinivasan Vaidyanathan

Operating Partner, Technology & Retail

Srinivasan Vaidyanathan is the Operating Partner, Technology & Retail, at Essar Capital. With over 30 years of experience in operational leadership, investment management and business growth across diverse sectors, Srinivasan provides critical evaluation on current and future capital investments.

His strength lies in leading new business development opportunities and conducting preliminary due diligence and analysis of emergent companies and partners.

Prior to Essar, he has worked with Archean Group as Group President, and with SIVA group as CEO for about 15 years.

Alok Gupta is the Operating Partner, Technology & Retail, at Essar Capital. With over 32 years of work experience in the technological sector, Alok leads all new capital investment recommendations to the company’s board.

He joined Essar as CEO Retail in the year 2010. Subsequently he took responsibility as President – Global Markets & Strategy since 2012 where he was responsible for sales, pricing strategy, marketing, and product & category management for the Steel business.

Prior to joining Essar, he has worked with Café Coffee Day and UB Spirits.

Kailash Daultani

Managing Director, Treasury and Finance

Kailash Daultani currently serves as the Managing Director, Treasury and Finance, at Essar Capital. With 18 years of experience, he has also served as the Senior Vice President, International Projects and Corporate Finance, with Essar Services. A qualified chartered accountant, Kailash joined Essar in 2003 after working with Chaturvedi & Shah and Dewani & Co.

Adithya Bhat

Managing Director, Risk

Adithya Bhat, with over 27 years of experience in Governance, Risk and Compliance (GRC), is the Chief Risk Officer at Essar Capital. He is responsible for investigation, analysis and assessment of risk, and accordingly design and implement strategies and processes which mitigate these threats. He also ensures the successful delivery of the organisation’s corporate and business plans and desired outcomes.

Prior to this, he was a partner with KPMG’s risk consulting practice focusing on enterprise and compliance risk management, partnering with leading multinational companies in areas of GRC in India, North America and Middle East.

He has also led digitalisation initiative in GRC space and was instrumental in running technology-based solution around enterprise risk, compliance risk, license management and document repository systems.  In addition, in an honorary capacity, Adithya is currently the Senior Vice President at the India Chapter of Institute of Internal Auditors Inc, USA and President elect for 2021 – 22.

Priya Chakravarty

Priya Chakravarty is the Senior Director, HR, at Essar Capital. She has more than 23 years of experience in Human Resources, having worked across industries like Manufacturing, Pharma, IT and Retail. In her last assignment as Chief People Officer – Hometown & Ezone, Priya was responsible for driving a transformational HR agenda that focused on organisational culture, building a talent pipeline, and initiating & aligning all people practices to business achievement. She has earlier worked with Cipla as Head HR – International Business, and has also volunteered with the Akanksha Foundation. In her earlier stint with Essar, Priya has worked at Senior Management roles, initially with Essar Oil and then as Head – International HR (Corporate HR).

ANDREW WRIGHT

Andrew Wright is the Managing Director, Legal, at Essar Capital. He is responsible to advise and represent the company for all the legal matters concerning the Energy sector investments and portfolio businesses.

Having completed his law degree from the University of Leeds, United Kingdom, Andrew has over 25 years of rich experience.

Anshuman Ruia

Anshuman Ruia is part of the second generation of the Ruia family that founded Essar. Essar was founded in 1969 by his father, Shashi Ruia, and uncle Ravi Ruia.

Anshuman is known for his financial expertise and project execution skills. He has overseen Essar’s BPO and Power businesses, and was instrumental in creating Aegis, the BPO arm of Essar. The Aegis business was monetised at a value of almost 20 times the investments made.

He is also responsible for the expansion and diversification of the Power business into new renewable energy sources, and its entry into the transmission and distribution segment. Mr Ruia is a member of the Young Presidents Organisation, and is a connoisseur of music and a keen table tennis player.

Rewant Ruia

Rewant is a member of the second generation of the Ruia Family that is the founding family of Essar. Rewant’s global exposure, fresh perspectives and arc of activities have contributed to Essar’s strategy and operations in the mining, steel and retail sectors, both in India and abroad. He holds an MBA from Stanford Graduate School of Business.

Frequently traveling between New York, London and Mumbai, he drives the strategy of Essar’s Oil and Gas Business in the United Kingdom, the Metals & Mining operations in the US, and the Power business in Canada.

He works closely with the asset acquisition team that helped forge strategic integration across the raw material-to-steel value spectrum, and now assists the management teams in maximising the value of their business. He played an active role in Essar’s entry into emerging modern retail.

Rewant concentrates on evolving the organisational design for Essar’s next phase of growth. He focuses on streamlining work flows, people systems and processes through the use of planning and technology.

Rajiv Gujjalu

Mr Rajiv Gujjalu serves as Director – Essar Global Fund Limited (EGFL). He plays a key role in managing strategic functions of EGFL.

Acting as director of several client companies, Rajiv is a Fellow member of the Mauritius Institute of Directors since 2012. He has held several senior management positions within the financial services industry over the past twenty-two years with experience in stockbroking, investment and treasury management, corporate and fund administration and insurance mainly in Mauritius and Canada. Currently, he heads the country operations of Afrocentric Group in Mauritius and is the Managing Director of Medscheme International. Additionally, he has held leadership positions at IAA Healthcare, Metropolitan Insurance, CIM Global Business, CIM Asset Management, Ireland Blyth Limited and HSBC respectively.

Rajiv was awarded the designation of Canadian Investment Manager by the Canadian Securities Institute in 2006. He holds a BA (Hons) in Economics and a Masters in Investment and Finance.

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Rewant ruia takes charge of essar's north american operations.

The youngest Ruia is focusing on ramping up capacities, setting up a pellet plant in US to use 1.4 bn tonnes of iron ore reserves even as father Ravi Ruia is spearheading the co's global drive from London.

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RP tells NCLT Rewant Ruia end beneficiary of Numetal

Rewant ruia is one of the ultimate beneficiaries and owners of a shareholder of numetal — one of essar steel’s bidders — through various holding companies and trusts, essar steel’s resolution professional satish kumar gupta has told the ahmedabad bench of the national company law tribunal (nclt)..

Rewant Ruia is one of the ultimate beneficiaries and owners of a shareholder of Numetal — one of Essar Steel’s bidders — through various holding companies and trusts, Essar Steel’s resolution professional Satish Kumar Gupta has told the Ahmedabad Bench of the National Company Law Tribunal (NCLT). According to the NCLT’s order, in a case filed by Numetal and ArcelorMittal challenging their ineligibility to bid for Essar Steel, the RP has informed the court that Numetal “is nothing but a newly-incorporated joint venture between Aurora Enterprises, Crinium Bay, Indo International Ltd and Tyazhpromexport through which its shareholders have the resolution plan”.

“The applicant has not submitted any agreement or understanding among parties to substantiate the averment that AEL/Rewant Ruia has no management rights, special rights, or the ability to participate in the management of the applicant either currently or going forward,” Gupta said. He added that the applicant (Numetal) was incorporated on October 13, 2017, for the purposes of submission of the resolution plan. According to him, at the time of incorporation of the company, its entire shareholding was held by Aurora Enterprises Ltd (AEL), which was in turn held entirely by Aurora Holdings Ltd, which was in turn held entirely by Rewant Ruia (through a trust and another holding company).

Further, on October 18, 2017, AEL transferred 26.1% of its shareholding in the applicant to Essar Communications (ECL) and on October 20, 2017, Numetal submitted its expression of interest (seven days after its incorporation) pursuant to the advertisement. “I understand that ECL transferred its entire shareholding in the applicant to one Crinium Bay Holdings Ltd, which is an indirect wholly owned subsidiary of VTB Bank, and AEL transferred its 13.9% shareholding to Crinium Bay, 25.1% shareholding to Indo International Ltd and 9.9% to Tyazhpromexport,” Gupta said.

According to the RP, on the date of submission of the Numetal Resolution plan, (Feb 12, 2018), the shareholding of the applicant was: 40% held by Crinium Bay, 25.1% held by Indo International Ltd, 9.9% by Tyazhpromexport and 25% by AEL. Numetal, he explained, by itself does not meet the financial eligibility criteria and is relying on its shareholders’ strength for satisfying the requirements of the process documents. At the stage of submission of EoI, he added, it met the tangible net worth requirement prescribed under the advertisement by relying on the net worth of ECL and for purposes of the Numetal Resolution Plan, it satisfies the minimum tangible net worth criteria on account of Crinium Bay.

He added that Ravi Ruia, father of Rewant Ruia, was the promoter of the Essar Steel , which was classified as a non-performing asset (NPA) more than one year prior to commencement of the corporate insolvency resolution process (CIRP) on August 2, 2017. “In the light of the fact that Rewant Ruia (who is acting jointly with the other shareholders of the applicant for the purposes of submission of the Resolution Plan and is deemed to be acting in concert with Ravi Ruia) is ineligible under Section 29A of the Code,” he said. Earlier this week, the Ahmedabad bench of the NCLT had asked the committee of creditors (CoC) to reconsider the bids of ArcelorMittal and Numetal for Essar Steel made in the first round. The two competing bidders had also participated in the second round with Numetal teaming up with JSW Steel.

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Willing to drop Rewant Ruia to win Essar Steel: NuMetal’s top investor

Rewant Ruia is a good addition to our bid, but if that stands between us and winning Essar Steel, other shareholders will buy his stake, says Makram Abboud, VC of VTB Capital

Mumbai: NuMetal Ltd, which has bid for bankrupt Essar Steel Ltd, is willing to drop Rewant Ruia as a consortium partner if the situation so demands, a top official of the company said in an interview.

Rewant Ruia is the son of Ravi Ruia, vice-chairman of Essar Group.

The Insolvency and Bankruptcy Code (IBC) has barred owners and associates of defaulter companies from bidding for distressed assets when they are sold to raise cash for creditors.

“Though we believe that Rewant is a good addition to our bid; but if that stands between us and winning Essar Steel, other shareholders will buy his stake, and this is already stipulated in our bid that was submitted" said Makram Abboud, vice-chairman of VTB Capital, the largest shareholder in NuMetal.

The consortium also includes Russian engineering firm Tyazhpromexport (TPE), Indo International Trading and Aurora Enterprises Ltd, owned by a trust controlled by Rewant Ruia as its trustee.

“The Ruias are one of our clients and we have a very good relationship with them but we are not married to them and they are not married to us, we all work independently as much as we work together" Abboud said.

“Also, Rewant Ruia does not have a board representation in NuMetal and is only a minority shareholder with no say in the management and was inducted because we wanted a local partner," he added.

Mint had reported 21 February that NuMetal’s bid for Essar Steel was likely headed for disqualification as the technical evaluation by law firm Cyril Amarchand Mangaldas and advisory firm Grant Thornton, were found to be short of fulfilling the prescribed eligibility criteria under the Insolvency and Bankruptcy Code, which bars promoters of defaulting companies from bidding for distressed assets.

Mint had reported on 12 February that NuMetal and ArcelorMittal were the only firms to have submitted binding financial bids for bankrupt Essar Steel Ltd.

“Our interest in Essar Steel has been long standing and we have been engaged in discussions with all stakeholders before it was referred to NCLT but nothing stuck at that stage" Abboud said.

“It was a different cycle back then but the steel sector is very different now and we were interested in bidding because the market has changed and our appetite has changed too," Abboud maintained.

Not ruling out the possibility of seeking legal recourse in the event of being disqualified, Abboud said “our bid is within the framework of law we would respond accordingly if our eligibility is questioned".

There were questions around the validity of ArcelorMittal’s bid as well, which had sold its stake in distressed steel maker Uttam Galva Steels Ltd back to its promoters at a huge discount, possibly as a means to qualify as a bidder for Essar Steel and other distressed assets that are up for sale. Uttam Galva is in the Reserve Bank of India’s second list of corporate defaulters slated to face insolvency proceedings.

Essar Steel owes around Rs45,000 crore to a consortium of 22 creditors led by State Bank of India (SBI), Essar Steel Hazira is the country’s largest single-location flat steel plant. The complex also houses a 30 million tonne per annum, all-weather, deep draft, dry bulk port and a 515 megawatt natural gas-operated power plant.

In August last year the creditors filed bankruptcy proceedings against Essar Steel in NCLT following which an interim resolution professional was appointed to administer the company. Several other potential suitors which include Vedanta Resources and Tata Steel had shown initial interest in the company and had submitted an expression of interest but did not submit binding bids eventually.

While the Committee of Creditors led by SBI is yet to make its decision public the Financial Express citing people aware of the matter reported on February 24 that the creditors are likely to approach the NCLT for approval before the resolution plans submitted by NuMetal and ArcelorMittal are taken up for evaluation.

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Restaurant-Yacht Chaika

Ratings and reviews, location and contact.

Pleasantly surprised, service is good so is the food. Great selection of Fusion food, a mixture of Italian, Japanese, European, Asian etc. A pleasantly nice dining experience, highly recommended, a must try!

Thank you for your feedback and invite you to have lunch or dinner again aboard the ship in an atmosphere of high standards of yacht hospitality.

everything was perfect - the food, the service, the desserts were the best, nice atmosphere and the location - magical

Best food, best view in Moscow. absolutely faultless from arrival to finish. Best risotto i had for many years absolutely perfectly cooked. The view on Ukrainian hotel and the white house by night is amazing

Had to wait for the food for 1.5 hours and then another 20 minutes for the check. Finally called for the manager and he offered... a 10% discount as a compensation. Simply pathetic! The food is mediocre at best. Not bad per se, but one... would expect something better considering the prices. There are many places to eat in area that are much better. Avoid this one at all costs. More

Hello, Alexander Your comment is extremely important for us, thank you a lot for it. We are terribly sorry for your time that you`ve spent waiting your order and we have already taken actions to improve quality of our service and it would be realy... More

Food is very expensive,very pretentious, doesn't worth that money. Portions are very small. We ordered ravioli and there were 4! Four raviolis! For almost 15 euros. Then we asked to bring us dessert menu but nothing, they didn't even bothered, so we payed and left... without dessert. Very poor service for that price. More

This is a very good restaurant. The food is really good, maybe the best in Moscow. The service is also good. The view from the restaurant is great. The prices are very high.

I often visit this restaurant and must say it’s one of the best in Moscow in terms of quality and service. Staff really try hard to make sure that you are happy and satisfied. Customer service is a huge problem in Moscow but Chaika sets... a great example for others in the industry! Food is delicious and the menu has lots of options for everyone! Atmosphere is great and view is beautiful on the embankment. Special thanks to German & Oleg! More

Thank you for your feedback! Again aboard the yacht restaurant "Chaika" in accordance with the high standards of yacht hospitality.

Highly recommended, great location in the city center of Moscow with a superb atmosphere. Too many menu choices, though all delicious!

Thx a lot for your review! We are looking forward to see you in our restaurants.

Visited this lovely restaurant with a friend of mine. It was relaxingly warm August evening - so the place on the river seemed like a good idea. We came quite early and the restaurant was not full. The hostesses kindly offered several places to sit... and we chose to sit on the sofas. We had some wine, which was good. We struggled a bit when deciding about the food as few options (scallops) were not available. Fish on ice on display did not look very fresh. To be honest it was an unusually hot August and it is probably understandable that some see food options were not available. However, we did manage to order something and sat waiting and looking onto the river. My long-legged friend struggled sitting at the low sofa and the manager noticed that, offering as a very good, proper table beside the open window. It was nice touch and I was very pleased by their polite observations and immediate reaction to solve the problem. Food was quite good and presentation was perfect. Perhaps I can something about the food, but 1 visit is not enough to criticize or make a definitive opinion. Overall, quality place, which of course, does not come cheap. I would recommend this restaurant without hesitation. More

Good afternoon! Thank you for your detailed feedback! We are looking forward to seeing you again, we are sure that you will be delighted with our dishes!

I've been here several times during two business trip in Moscow. The overall quality for both service and food is absolutely top-notch, plus the location is very unique.

Hello! Thank you for your feedback! We are looking forward to visiting again!

Located on a boat at Krasnopresenskaya River Bank this 5 Star Restaurant transforms into a party location due to multiple groups hosting events. Impressive wine selection, Asian and European kitchen...

Thx a lot! We are waiting for you!

It is a nice place to gather specially at the lounge The service and staff very good I like the river view The food is almost like all restaurants in Russia they serve different cuisine. Staring Russian appetizer till Asian dishes Presentation and taste amazing... I consider it overpriced little bit More

Good location. Nice views. Good choice of food and drinks. European and Asian menu. Nice service. Pricey enough.

Had a large group dinner here. Food was above average and service quite good. The real attraction is the view of Moscow from the river on a nice night. Great place for a larger group dinner. More

Hello, John We are really pleased by reading that you and your friends were satisfied by our service, client`s experience is the highest value for us. We will be happy to see you again, come and enjoy some new dishes from our chef and nice... More

The luxurious atmosphere of this place, the view and the location make it quite outstanding. We had dinner here with friends and the dishes were amazing, accompanied by a chilled bottle of Chablis, it really made me feel as if it was a part of... the classic Russian movie. More

RESTAURANT-YACHT CHAIKA, Moscow - Presnensky - Restaurant Reviews, Photos & Phone Number - Tripadvisor

• Service: 4.5
• Atmosphere: 4.5