Prem Sawhney denies Essar job rumours
Is Prem Sawhney leaving Reliance for Essar Sawhney is the public face of Reliance’s CBM project and any move would be a big coup for rival Ruia-family-controlled Essar.
Reliance sources tell us Sawhney has quit the company on â€کhealth grounds’. But contacted by this report, Sawhney categorically denies any plan to move to Essar.
“My joining Essar is a rumour,†he said. “There is no truth in it.
†In a written response to this report, Essar also denies Sawhney is joining the company. Reliance sources, however, insist Sawhney has resigned.
“Reliance has given Sawhney a month to reconsider his decision,†we hear. Insiders tell us Essar is believed to have offered Sawhney â€کa hefty package’ to encourage him to switch jobs.
Both Reliance and Essar have important ongoing CBM projects, with Essar keen to develop its RG (E)-CBM-2001/1 (Raniganj East) CBM block and Reliance this year winning DGH approval to drill 100 wells at the Sohagpur East and West blocks over five years.