Sanjeev Gupta-led Liberty House moved National Company Law Tribunal (NCLT) on Monday after the lenders rejected the company’s bid for debt-ridden Bhushan Power & Steel, which owes about Rs 450 billion to its lenders. The counsel for Liberty House argued that the company’s plan should be considered by lenders and resolution professional as it might […]
Month: February 2018
KG block production may be delayed due to GST-like policy changes: ONGC
Oil producer ONGC has said it may miss the June 2019 target for starting production from its Krishna Godavari basin block due to new policies like GST and local purchase preference rules, including the one that mandates state-owned firms to source domestic iron and steel for an infrastructure project. Clarifying on its last week’s filing […]
PFC to lend Rs 50,200 crore to UP power utilities
State-run Power Finance Corporation Ltd (PFC) will lend Rs 50,200 crore to Uttar Pradesh power utilities for executing generation, transmission and distribution projects. PFC executed Memoranda of Understanding (MoUs) with UP State sector power utilities — UPRVUNL, UPPTCL and UPPCL—for providing the required financial assistance of Rs 50,200 crore for upcoming greenfield and extension thermal […]
Government reviews cancellation charges for delayed flights
Flight delays may soon cost airlines dear if they are to blame for the behind schedule operations. And, cancelling flight tickets may not mean huge losses for passengers due to steep charges. The Modi government is reviewing issues like these that directly impact air travellers in a bid to have passenger-friendly skies. “We are drawing […]
Jammu-bound GoAir flight returns to Leh airport after technical snag
A Jammu-bound GoAir flight, with 112 passengers and crew members on board, returned to the Leh airport today shortly after take off due to some “technical snag”, officials said. The Delhi-Leh-Jammu flight left the Leh airport in the Ladakh region for Jammu at 9.20 am, but returned within 10 minutes, an official of the GoAir […]
IGI stalemate ends, after SC order IndiGo says will shift flights
Budget carrier IndiGo today said it would comply with the Supreme Court’s order and shift some of its flights from one terminal to another at Delhi’s Indira Gandhi International airport in the coming weeks. On Friday, the apex court rejected IndiGo’s plea challenging a Delhi High Court order to shift its operations partially from Terminal […]
Saudi oil minister hopes Opec, allies will ease output cuts in 2019
The Organization of the Petroleum Exporting Countries is reducing output by about 1.2 million barrels per day as part of a deal with Russia and other non-OPEC producers. The pact will run until the end of 2018. He said the OPEC and non-OPEC members were committed to bringing stability and to balancing the market. “The […]
Oil slips to $66 a barrel as U.S. output offsets OPEC curbs
Oil slipped to $66 a barrel on Friday, under pressure from concerns that rising U. S. oil output and exports will offset OPEC-led attempts to erode stockpiles with output curbs. U. S. oil production last week was 10.27 million barrels per day, a record level if confirmed by monthly figures. Crude exports jumped to more […]
SC dismisses IndiGo’s plea against order to shift from T1 to T2 of IGI
The Supreme Court today dismissed a plea of no-frill carrier IndiGo challenging a Delhi High Court order to shift its operations from Terminal-1 (T-1) of the IGI Airport here to Terminal 2. A bench of Chief Justice Dipak Misra and Justice D Y Chandrachud directed the IndiGo Airline to shift its operations partially to T2 […]
After two-fold growth in 2017, solar installations may trip in 2018: Study
Solar installations in India more than doubled to 9,629 Mw during calendar 2017, from 4,313 Mw during 2016, making it the best year for the sector in the country. Cumulative solar capacity stood at 19.6 Gw as of December 31, 2017, backed by large-scale solar projects, which accounted for about 90 per cent, or 8,634 […]
India offers Saudi Arabia stake in second phase of strategic oil reserve
India has offered Saudi Arabia a stake in the second phase of the south Asian nation’s yet-to-be-built strategic oil reserves, Oil Minister Dharmendra Pradhan said in New Delhi on Friday. The government also discussed with Saudi Arabia investment opportunities in a proposed oil refinery with 1.2 million barrels per day of capacity on the west […]
Work has started on Afghan section of gas pipeline to Pakistan, India: Turkmenistan
Turkmenistan on Friday announced the start of construction work on the Afghan section of an $8 billion natural gas pipeline that will link the energy-rich Central Asian nation to Pakistan and India. Ex-Soviet Turkmenistan holds the world’s fourth-largest natural gas reserves but has been heavily dependent on gas exports to China after Russia cut back […]