By Rajhkumar K Shaaw Dated: 27 Aug 2024 India’s Ministry of Finance in a meeting last week with state-run lenders finalised a list to sell via auctions or transfer to government-controlled National Asset Reconstruction Co Ltd (NARCL) the defaulted loans of 17 companies, according to a source familiar with and a source with knowledge of […]
The Maharashtra government in a cabinet meeting held on June 26, 2024 has reversed its own decision to buy out the Reliance Infrastructure (R-Infra)’s 74 per cent stake in Mumbai Metro One. The decision comes just four months after the state government had given a go ahead to the proposal on March 15, 2024. The […]
By Palak Shah for Business Standard The Supreme Court (SC) of India’s recent decision to allow and uphold the prayers of a ‘Curative Petition’ in an ‘Arbitration Award’ will go down in the annals of legal history globally, since it concerns the country’s image as a business hub where commercial arbitrations play a vital role. […]
The Airport Metro Express Line (AMEL) comprises of 22.91 km length (16 km tunnel + 7 km via-duct), having standard gauge (1435 mm), between New Delhi Railway Station and Dwarka Sector 21. “Viaduct” is the elevated portion resting on pillars (piers) and “Tunnel” section is that below the ground level. DMRC awarded the civil works […]
Delhi Metro Express Line (DAMEL), comprising of 2 2.91 km line consisting of (16 km tunnel + 7 km via-duct) between New Delhi Railway Station and Dwarka Sector 21, commenced its operation on February 23, 2011 for Delhi Metro Rail Corporation Ltd (DMRC). As per the Concession Agreement (CA), the scheduled peak speed of the […]
CFM Asset Reconstruction Pvt Ltd was one of the four ARCs that were searched by Income Tax department in December 2021. Following these searches, the Reserve Bank of India (RBI) carried out special audit of these ARCs and based on outcomes issued them show cause notices in May 2023. Such taint notwithstanding, CFM Asset Reconstruction […]
The Calcutta High Court has granted an unconditional stay on the operation of a Rs 1,301 crore arbitration award won by Rashmi Metaliks Ltd against the South Eastern Railway (SER). It has observed that, prima facie, the same has been obtained through fraud and corruption by procuring silence of certain Railways officers who did not […]
NLC India and NTPC along with three private players have bagged coal blocks in the seventh round of auctions which concluded with the sale of all six mines put under the hammer. With the successful auctioning of these six coal mines, the total number of coal mines auctioned under commercial auctions now stands at 92. […]
A division bench of the Karnataka high court has quashed the letter of intent (LoI) issued by Bharat Heavy Electricals Ltd (BHEL) in favour of a Kolkata based company BTL EPC Ltd which had bid using the experience of Fujian Longking Company Ltd, a Chinese company, to meet the Pre-Qualification Requirement (PQR) of the tender. […]
The zero bill for energy consumed under the Gruha Jyothi scheme kicked in on August 1. Karnataka energy minister KJ George said that 1.42 crore consumers are eligible for the scheme and will not pay power bills. In many districts, including Bengaluru, officials from various energy supply corporations (Escoms) handed over zero bills to consumers. […]
ACME Group gets Rs 4,000 cr loan from REC for Oman green hydrogen project Renewable energy firm ACME Group said it has tied up a Rs 4,000 crore loan from REC Ltd for its green hydrogen and ammonia project in Oman. The amount will be used to commence the first phase of the project, to […]
Arunachal inks MoA with 3 CPSUs, allots 12 hydropower projects Arunachal Pradesh government has allotted 12 hydropower projects to three CPSUs – NHPC Ltd, SJVN Ltd and NEEPCO Ltd. The total operational capacity of these 12 projects is 11,517 MW. The projects will be developed in partnership with the state government which will have a […]
