Category: Magazine News

Analysis of the published annual accounts for FY 2010-11 to 2016-2017 of six companies of L&T group reveal fudging of accounts. The management has indulged in window dressing of accounts to the extent of Rs 18,779 cr

The Unnat Jyoti by Affordable LED for All (Ujala) Yojana is being implemented by Energy Efficiency Services Ltd (EESL), a joint venture of power sector PSUs. It is based on aggregation of demand and bulk procurement of LED bulbs by EESL, resulting in reduction of procurement prices of these bulbs which is passed on to […]

The metropolitan magistrate court in Mumbai has granted bail to a contractor who was booked for allegedly cheating ONGC of Rs 115 crore, on the condition that he deposited 10 pc of the defrauded amount. The court has warned Mahdoom Bahrudeen, director of NaftoGaz India Pvt Ltd, if he caused any delay in the trial, […]

To improve regional air connectivity, on August 24, 2017 the government announced increasing viability gap funding (VGF) for helicopter operators and allowing smaller planes, among other concessions, under the 2nd round of bidding for UDAN scheme.

Cess on High Speed Diesel (HSD) Oil and Petrol is levied as per the provisions of the Central Road Fund (CRF) Act, 2000 amended by the Finance Act from time to time. The funds accrued under the CRF during 2014-15, 2015-16 and 2016-17 were Rs 26,108 crore, Rs 69,809 crore and Rs 80,800 crore, respectively.

As per section 3(i) of RFCTLARR Act, 2013, Administrative Charges (AC) for acquisition of land for the NHAI projects is included in the cost of acquisition and such AC is to be specified by the appropriate government. Different state governments are charging different AC, which do not appear to be based on any norm.

The road transport and highways ministry has taken up a separate scheme for development of 5,477 km roads (NHs and State Roads) in the states of Andhra Pradesh, Bihar, Chhattisgarh, Jharkhand, Madhya Pradesh, Maharashtra, Odisha, Telangana and Uttar Pradesh affected by Left Wing Extremism (LWE) at an approved cost of Rs 7,300 crore.

The allocation of funds for the development of national highways has been more than tripled in the last three years crossing Rs 1 lakh crore mark in 2017-18. State

On August 9, 2017, the Hyderabad bench of the National Company Law Tribunal (NCLT) approved the insolvency proceedings against Lanco Infratech following an application by IDBI Bank under the Insolvency and Bankruptcy Code (IBC). The tribunal has appointed Savan Godiawala as the interim resolution professional (IRP) and posted the case to August 31. Lanco Infratech […]

On July 28, 2017, the Directorate General of Anti-Dumping and Allied Duties (DGAD) has issued a notification for imposing anti-dumping duty on castings imported from China for use in the construction of wind turbines. The duty suggested varies between 6.27 pc and 35.92 pc for different Chinese companies, six of which are specifically named. A […]

In its Draft National Energy Policy, Niti Aayog had suggested splitting of Coal India Ltd (CIL)’s subsidiaries. It said, “In the medium to long run, it is essential that we move away from this opaque coal economy and introduce greater competition in it. This requires two key steps. First, we must corporatize the seven subsidiaries […]

The government is working on rollout of 47,648 MW of nuclear power plants to be completed in phases till 2031. These projects are worth over Rs 8 lakh crore keeping in mind the cost of Rs 106,740 crore for 6,000 MW (ie Rs 17.79 crore / MW) for Kudankulam project, and 10 indigenous 700 MW […]