Category: Power

Ever since a Pakistan-backed terrorist killed Central Reserve Police Force jawans, scores of Indians have been making both strategic and tactical decisions on behalf of the government. Their lack of training, experience, and capability to make such decisions in real-time in a fast-moving world has, evidently, not deterred them. On issues that matter to them, […]

NEW DELHI: State-owned Central Bank of India has put up for sale four stressed accounts, including Bhushan Power & Steel and Essar Steel India, to recover dues of ₹3,321 crore. “In terms of the bank’s policy on sale of financial assets in line with the regulatory guidelines, we place the following accounts for sale to […]

MUMBAI: The Enforcement Directorate here on Sunday interrogated Matix Group owner Nishant Kanodia in its ongoing investigation in an alleged loan scam involving ICICI Bank and the Videocon Group, an official said. This was the first time the ED had called Kanodia for interrogation. Kanodia is son-in-law of Essar Group’s Chairman Ravi Ruia. The ED […]

New Delhi: The government has approved a Rs. 14,000 crore special economic zone (SEZ) project of Adani Power in Jharkhand, which will export entire power generated to Bangladesh, an official said. The project was approved by highest decision making body on SEZ — Board of Approval — chaired by the commerce secretary, in its meeting […]

Mumbai: JSW Steel Ltd will not be able to seek an equity partner in the initial stage of its acquisition of bankrupt Bhushan Power and Steel Ltd (BPSL), said a senior company executive. Recent rulings by courts under the Insolvency and Bankruptcy Code (IBC) state that the structure of a resolution applicant, whether as an […]

Mumbai: The Enforcement Directorate (ED) is carrying out searches at the premises of former CEO of ICICI Bank Chanda Kochhar, her husband Deepak Kochhar and Videocon Industries promoter Venugopal Dhoot in a case of alleged money laundering, said ED officials. The ED confirmed the developments on its official twitter handle. Messages sent to Chanda Kochhar, […]

Mumbai: The Enforcement Directorate on Friday carried out searches at homes and offices linked to Chanda Kochhar, the former chief executive officer of ICICI Bank Ltd, her husband Deepak Kochhar, and Venugopal Dhoot, promoter of Videocon Industries Ltd, in a case of alleged money laundering, ED said on its official Twitter handle. The raids, which […]

New Delhi: The announcement of the second phase of the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME-2) scheme on Thursday, with an outlay of ₹10,000 crore for a period of three years, has been welcomed by automakers that were waiting for a signal before committing huge investments in electric mobility. Government support […]

The Cabinet Committee on Economic Affairs (CCEA) recently approved an extension to the existing 1,000 megawatts (MW) central public sector undertaking (CPSU) scheme under the National Solar Mission (NSM), taking the cumulative capacity approved under it to 12 gigawatts (GW). The CCEA also approved ₹8,580 crore as viability gap funding to subsidize projects to be […]

NEW DELHI: State-run REC’s board Thursday decided to approve an interim dividend of ₹11 per equity share of ₹10 each and also increased its overall market borrowing limit to ₹85,000 crore from the earlier ₹60,000 for the current financial year. Board approved declaration and payment of interim dividend at ₹11 per equity share of ₹10 […]

Private sector power producers have asked the ministry of power for an urgent resolution to the delays in payment by state-owned distribution companies (discoms), which in turn, will help stave off the massive loan defaults by the producers. In a meeting with power ministry officials and bank executives on Tuesday, power company representatives also requested […]

NEW DELHI: The NCLAT Tuesday dismissed a petition of the resolution professional of debt-ridden Monnet Power Company against an NCLT order, which had directed the firm to reconsider claims of its operational creditor state-owned BHEL. A two-member National Company Law Appellate Tribunal (NCLAT) bench headed by Justice S J Mukhopadhaya asked the RP to act […]