250 GW RE in 5 years

The government has decided to invite bids for 50 GW of renewable energy capacity annually for the next five years ie from FY24 till FY28. These annual bids of ISTS (Inter-State Transmission) connected renewable energy capacity will also include setting up of wind power capacity of at least 10 GW per annum. The plan is […]

Odisha Slurry Pipeline

Essar Steel India Ltd (ESIL), minus the interest cost on its borrowings, was in profit. On August 2, 2017, NCLT Ahmedabad admitted it into corporate insolvency resolution process (CIRP) as a ‘going concern’. All the debts upto this date of ESIL were consolidated and dealt separately as per law. It had been generating enough revenues […]

Jet Airways

Jet Airways Cabin Crew Association (JACCA), which moved the National Company Tribunal (NCLT) in November 2022 seeking liquidation of Jet Airways assets, has argued that the approved resolution plan has been contravened following no payments made to the former employees of the airline.  

Six years of IBC 2016

In a major economic reform, the Parliament of India enacted The Insolvency and Bankruptcy Code, 2016 (IBC) in May 2016 to provide for insolvency resolution of distressed entities in a time bound manner for maximisation of value of assets of such entities and to balance the interests of all stakeholders. The IBC was enacted to […]

Smart Meter

Power Grid Corporation of India Ltd (PGCIL) has floated a tender for 1 crore smart electricity meters in a most haphazard way. The selection process is on and presently meter testing of shortlisted bidders is underway, but there is not even a single customer. After over five months of tender release, in an amendment PGCIL […]

Electric Vehicle

UP announces new EV policy, offers incentives to buyers, manufacturers The Uttar Pradesh government has announced the New Electric Vehicle Manufacturing and Mobility Policy, 2022. The policy provides for a three-pronged incentive regime that includes benefits to consumers for purchasing EVs; to manufacturers of EVs, batteries and related components; and to service providers developing charging/ […]

US SEC levies penalty on Oracle India for bribing

The United States of America’s Securities and Exchange Commission (SEC) in its order dated September 27, 2022 has stated that Oracle India has authorized certain payments to pay bribe to government officials of a PSU that deals in ‘transportation’, which is ‘majority’ owned by the Ministry of Railways. It has further found that $330,000 was […]

OALP-IX

The government has offered 26 blocks covering an area of 2.23 lakh sq kms for exploration and development through international competitive bidding, Directorate General of Hydrocarbons (DGH) said without giving timelines for bidding. Out of the 26 blocks, 15 areas are in ultra-deepwater, 8 in shallow sea and 3 blocks are onland.  

Farm Houses in Noida

During the Mayawati regime in Uttar Pradesh, the state handed largesse to private entities / individuals, people belonging to the affluent class on an industrial scale. During this phase (13.05.2007 to 15.3.2012), the Noida Authority in Uttar Pradesh allotted 181 Farm House Plots, each of over 10,000 sqm (about 2.5 acres), to 157 applicants. Out […]