Top 10 biz headlines: Ruias win back Mahan Power, auto cos' GST woes & more

From the Ruias being set to wrest back control of the Mahan Power project to the govt's warning that GST relief for auto cos may raise burden on other goods, here are Thursday's top business headlines

1) Ruias set to win back control of Mahan Power as ArcelorMittal bid falters

The Ruias of Essar Group are set to wrest back control of their 1,200-Mw Mahan Power project in Madhya Pradesh after a rival bid from ArcelorMittal failed to meet expectations of the lenders. L N Mittal-owned ArcelorMittal had made a non-binding bid of Rs 4,800 crore for the company in December last year, pending its own due diligence.

As against this, the Ruias made an upfront cash offer of Rs 3,450 crore as one-time settlement. (Read more here) 

2) GST relief for auto cos