SEW arm receives Rs 985 crore arbitration award

Infrastructure firm SEW Infrastructure on Monday announced receiving an arbitration award of Rs 985 crore as claims it raised on behalf of a special purpose vehicle (SPV) in joint venture with Prasad & Co. In a statement, SEW said the disputes pertained to execution of a contract the SPV had entered into with the Uttar […]

Kochhars-Dhoot Nexus

In our July 15, 2016 issue, the story titled, “Kochhar’s Renewable Empire: Built on Mauritius Route & Loans from Dhoot & Others,” was published. At that time an in-depth reporting on the linkage between NuPower promoted by Deepak Kochhar, husband of Chanda Kochhar, Managing Director & CEO of the ICICI Bank, loans given by ICICI […]

CoD of Tata’s Mundra Power Plant

The Central Electricity Regulatory Authority (CERC) has reserved its judgment on a suo motu petition, initiated way back in 2015, triggered by complaints challenging the test certificates issued by an Independent Engineer (IE) on the basis of which the plants of Costal Gujarat Power Ltd (CGPL) were commissioned (called Commercial Operation Date or “COD”).

L&T delineated 5 cos to InvIT

On May 4, 2018, Larsen & Toubro Ltd (L&T) informed the stock exchanges that its subsidiary company, L&T Infrastructure Development Projects Ltd (L&T-IDPL) has transferred its stake in its five subsidiary companies to Indinfravit Trust through the infrastructure investment trust (InvIT) route. Accordingly, these companies cease to be subsidiary companies of L&T effective from May […]

Editorial- June 2018

This issue is entirely dedicated to exposing financial frauds committed by private companies. The Kochhars saga has been divided into three parts. In Part-1, we have established the fact that Mahesh Chandra Punglia is one of the Name Lenders being used by Venugopal Dhoot for his clandestine operations. Deepak Kochhar’s claim that Rs 64 crore […]

NTPC Q4 profit jumps 41% to Rs 2,925.59 crore

NTPC Ltd on Monday posted a 40.69% jump in its standalone net profit at Rs2,925.59 crore for the March 2018 quarter, mainly on the back of higher revenues. The company’s standalone net profit was Rs2,079.40 crore in the same quarter a year ago, NTPC said in a BSE filing. Total income on standalone basis for […]

Dhunseri looks for a partner for Egypt venture

Chandra Kant Dhanuka owned Dhunseri Petrochem is looking to rope in a strategic equity partner for its Egyptian venture. The move follows full repayment of the joint venture Egyptian Indian Polyester Company S.A.E (EIPET) outstanding dues and scaling up its holding to 93 %. The company on Friday said it has paid $ 87 million […]