With outstanding dues spiralling to nearly Rs 6,000 crore, state-owned power generation company NTPC has threatened to cut supplies to the electricity distribution companies of Andhra Pradesh, Karnataka and Telangana from Wednesday if the bills are not cleared soon.
Day: February 5, 2019
IL&FS companies to be grouped on payment ability
MUMBAI: The National Company Law Appellate Tribunal has asked the government and IL&FS to provide a list of group companies that have the ability to meet payment obligations in the next 12 months.
Subsidy provisions may reignite interest in ONGC, OIL
ET Intelligence Group: ONGCNSE 0.14 % and Oil IndiaNSE 0.29 % might move beyond their sluggish trading ranges after a year because of the significant increase in oil subsidy provisions
Indian court rejects Tata Steel’s move to block rival bids for Bhushan Power
An Indian appeals tribunal has ruled against Tata Steel Ltd’s effort to dismiss rival bids for Bhushan Power and Steel, boosting JSW Steel Ltd’s offer to buy the indebted steel maker.
Victory for India: UK clears Vijay Mallya’s extradition
In a big development in Vijay Mallya extradition case,UK Home Secretary Sajid Javid today has signed the order to extradite Mallya to India. Mallya now has a 14-day window to appeal to a higher court. According to multiple sources, the entire procedure to bring back
SpiceJet to start Hyderabad-Jeddah flight from March 25
SpiceJetNSE 0.00 % Monday said it will start a daily non-stop flight between Hyderabad and Jeddah from March 25.
Government asks Air India to submit its opinion on upper cap in airport slots, after other airlines do so
NEW DELHI: The Civil Aviation Ministry has asked Air India to submit its opinion on a proposal that an upper cap may be set for the percentage of landing or takeoff slots an individual airline can hold in congested airports, according to officials of the national carrier.
Government asks HPCL to acknowledge ONGC as promoter
NEW DELHI: The government has directed Hindustan PetroleumNSE -0.35 % to acknowledge ONGC as a promoter in regulatory filings in a move aimed at ending the year-long slugfest between the two companies that has obstructed synergy gains from the Rs 37,000
CERC pushes for 100% power sale in spot market
NEW DELHI: India proposes to move to the global practice of selling entire power generation through spot market to lower tariffs, promote efficient plants and withstand periodical aberrations that benefit a few plants. It is also expected to ensure that power plants
Why oil remains central to India’s twin deficits
The Union Budget 2019-20 has expectedly shown a slip in the fiscal deficit, at an estimated 3.4% for the current, as well as the next fiscal year. The breach in the reported deficit numbers has, however, been lower than what many had feared, partly owing to optimistic revenue assumptions.
ONGC Videsh looks to pare stake in one of its costliest acquisitions
NEW DELHI: State run-ONGC Videsh Ltd (OVL) is exploring the transfer of its stake in Imperial Energy Corp. Plc’s Siberian deposits to a Russian firm to reduce potential losses from the $2.1-billion acquisition, said a person aware of the development.
Coal India to raise Rs 1050 crore via its second-ever share buyback
Coal India, on Monday, decided to buyback 44.68 million shares of the company from the market at a price of Rs. 235 apiece which will fetch the Maharatna company a targeted Rs. 1050 crore. Its cash rich subsidiaries – Mahanadi Coalfields (MCL), South Eastern Coalfields (SECL) and Northern Coalfields (NCL) – will be funding the […]