Inox Wind today said National Company Law Appellate Tribunal (NCLAT) has released the company from the rigour of law and allowed it to function independently through its board of directors with immediate effect. NCLAT has also directed National Company Law Tribunal (NCLT) to close the Corporate Insolvency Resolution Process (CIRP) initiated against the company, it […]
Month: July 2017
Regional connectivity scheme to open new routes: Boeing
The regional connectivity scheme is going to allow new routes to be opened up in India, Boeing said today. “We expect RCS to allow new routes to be opened up, which will create a market of our Boeing 737, as airlines upgrade the aircraft on routes that opens up with regional connectivity,” said Dinesh Keskar, […]
Shell plans 400 job cuts at Dutch projects and technology department
Royal Dutch Shell Plc plans to cut more than 400 jobs in the Netherlands, mainly at its major projects and energy technology operations, as the oil giant shifts its business model in response to lower oil prices, according to an internal document seen by Reuters. The world’s second-largest oil company by market capitalisation said in […]
Boeing expects India to order up to 2,100 aircraft over 20 years
Boeing Co said on Monday it expects Indian airlines to order up to 2,100 new aircraft worth $290 billion over the next 20 years, calling it the highest-ever forecast for Asia’s third-largest economy. India is one of the world’s fastest-growing aviation markets with domestic passenger traffic growing at more than 20 percent a year over […]
Kishangarh Airport to be commissioned by August, says AAI
In yet another achievement for the Airports Authority of India (AAI), the Kishangarh airport in Rajasthan is likely to be operational by next month. AAI officials believe the new airport will cater to tourists who visit Ajmer on regular basis. Sudhir Raheja, Member (Planning) of the AAI, said, “Hostile to smile was the motto we […]
Board of NTPC approves bond issue of upto Rs 15000 cr
The Board of Directors of NTPC at its meeting held on 29 July 2017 has considered and approved the issue of secured/ unsecured, redeemable, taxable/ tax-free, cumulative/ non-cumulative, non-convertible debentures (‘Bonds/NCDs’) upto Rs 15,000 crore during the period commencing from the date of passing of Special Resolution in the ensuing Annual General Meeting till completion […]
Centre plans to set up petrochemical clusters: Dharmendra Pradhan
The Centre is planning to set up petrochemical clusters in eastern, western and southern India, to spur growth of the sector amid increasing demand, union minister Dharmendra Pradhan said here today. “We plan to set up a number of petrochemical clusters, two each in east and west coasts, and some in south India. They will […]
Kalanithi Maran vs Ajay Singh: Blow for SpiceJet as SC dismisses petition
In a blow to Ajay Singh-led low-cost carrier (LCC) SpiceJet, the Supreme Court on Friday dismissed its appeal challenging the Delhi High Court order that directed it to deposit Rs 529 crore in relation to a share-transfer dispute with media baron Kalanithi Maran. The Bench headed by Justice Rohinton Nariman heard the counsel to Ajay […]
ONGC wins government nod for Rs 7,738 crore GSPC stake buy
State-owned Oil and Natural Gas Corp (ONGC) has won government approval for acquisition of Gujarat State Petroleum Corp’s entire 80 per cent holding in a KG basin gas block for Rs 7,738 crore, the company said. ONGC had in December last year agreed to buy entire 80 per cent interest of GSPC along with operatorship […]
Now violators will have to pay Rs 5,000 fine at airports
Individuals who violate regulations at airports will now face higher penalties, with state-owned AAI putting in place revised fine amount. The Airports Authority of India (AAI) manages 126 airports. Any person contravening the AAI regulations will face up to Rs 5,000 penalty, a steep hike from the earlier Rs 500, as per the new regulations. […]
Coal India asks five arms to save 40 mt for auction under Shakti Scheme
Coal India has asked five of its seven subsidiaries to keep aside a total of 40 million tonnes of coal for auction to independent power producers under the Shakti scheme. South Eastern Coalfields and Central Coalfields will supply 12 million tonnes each, while Northern Coalfields will provide 4 million tonnes; Mahanadi Coalfields 9 million tonnes […]
China plans space-based, solar-powered telecom drones for emergency support
China is planning to build a space-based, solar-powered drone telecommunications network capable of providing week-long emergency assistance on the ground, according to a state media report on Wednesday. A research institute affiliated with China Aerospace Science and Industry Corp is developing the project “Feiyun,” which means “flying cloud,” the Global Times reported, citing another report […]