Infrastructure major Larsen & Toubro (L&T) Tuesday said its construction arm has won contracts worth Rs 2,048 crore across two business segments. Power transmission and distribution business of L&T Construction has bagged orders worth Rs 1,633 crore in the domestic market, it said in a BSE filing. “The business has secured a major order for […]
Day: September 18, 2018
OVL to exit Kazakhstan’s Satpayev oil block
ONGC Videsh Ltd, the overseas investment arm of state-owned Oil and Natural Gas Corp (ONGC), plans to exit Kazakhstan’s Satpayev block after it could not find commercially exploitable oil, an official said Tuesday. OVL had in April 2011 bought 25 per cent of Satpayev oil block. It paid USD 13 million as a signing amount […]
Creditors of Nagarjuna Oil told to explain liquidation value
The bankruptcy court has asked creditors of Nagarjuna Oil Corporation to explain the basis of liquidation value of the Chennai-based company’s assets and why it rejected some resolution plans. The committee of creditors (CoC) has to submit its explanation before the Chennai bench of National Company Law Tribunal (NCLT) on Tuesday. Petitioners in the case, […]
23k artisans in Telangana power utilities to be regularised
Legal hurdles for regularising the services of outsourced personnel working in power utilities in Telangana as ‘artisans’ have been cleared with a petition challenging the proposed regularisation being struck down in the High Court Tuesday, the state government said. The development paves the way for regularising the services of 23,000 ‘artisans’ working in power utilities, […]
Power Finance Corp moves NCLT, files insolvency plea against Rattan India
State-owned Power Finance Corp (PFC) has filed an insolvency plea against Rattan India Power, formerly known as Indiabulls Power, in the National Company Law Tribunal (NCLT) to recover unpaid loans. A two-member bench of NCLT Tuesday adjourned the matter to November 26 as the Supreme Court has ordered status quo in insolvency pleas against power […]