The Allahabad High Court has reserved judgment on a case filed by power producers against the controversial Reserve Bank of India circular on stressed assets, sources said. However, an order is expected before Aug 27– the deadline for completing resolution proceedings for the stressed assets, the sources said. The arguments of both sides have concluded, […]
Day: August 21, 2018
Kerala floods: Kochi airport suffers estimated loss of over Rs 220 crore
The Cochin International Airport Limited (CIAL) has suffered an estimated loss of over Rs 220 crores in the floods, an official said here today. He said the CIAL management has launched rebuilding of the damaged infrastructure including 2.5 km long airport walls that collapsed after Periyar river overflowed. The runway, taxi bay, duty free shops […]
Government sets 2 million tonnes daily sales target for Coal India Limited
The Centre has asked Coal India to raise daily output and sales to 2 million tonnes from 1.4 million tonnes achieved in the last quarter to improve supply to power plants facing critically low stocks. The coal ministry has told the company that it needs to produce and sell 1.9 million tonnes and 1.94 million […]
India’s small renewables firms fighting consolidation wave
Small to mid-sized renewable energy companies in India are starting to look like attractive takeover targets as lenders and investors withhold funds, worried by the stiff competition, weak bond markets, low tariffs and high debt besetting the sector. The small companies’ difficulty in raising cash is keeping them away from government power project auctions, restricting […]
Private airlines need to deal with issues on their own, says Prabhu on Jet Airways
Amid Jet Airways facing turbulent times, Civil Aviation Minister Suresh Prabhu has made it clear that private airlines have to deal with issues facing them on their own and the government’s role can only be at the policy level. The minister’s comments come at a time when the airline industry is grappling with tough times […]
Jet Airways says not aware of any inquiry by Indian government
Jet Airways India Ltd., the carrier that deferred earnings this month pending endorsement of its books by auditors, said it’s unaware of any probe initiated by government authorities after a report said the company is under scrutiny for alleged embezzlement of funds. The Registrar of Companies, which is under the Ministry of Corporate Affairs, has […]