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NEW DELHI: With state-owned Coal India (CIL) facing problems in enhancing production, the Environment Ministry is working on a mechanism for introducing online system for granting faster clearances to coal projects. The development follows Prime Minister’s Office directing CIL to sign fuel supply agreement with the power producers with...
MUMBAI | NEW DELHI: The Children’s Investment Fund (TCI) has appointed law firm Luthra & Luthra to fight its case against state-owned coal monopoly Coal India and its directors for alleged breach of corporate governance practices. The UK-based hedge fund said government’s decision to ask Coal India to sign...
MUMBAI: Media giant Ananda Bazaar Patrika (ABP) is parting ways with the Rupert Murdoch-controlled STAR Group, after months of discontent over editorial and other strategic issues. The two have been operating the news television venture Media Content & Communications Services India Pvt Ltd (MCCS) over the past nine years....
MUMBAI (Reuters) – Indian shares edged higher in the first day of the quarter, as banking stocks rose for a second session in a row on expectations that the cash crunch that had constrained the sector in March will ease in the new fiscal year thanks to government spending...
Indian economy could take another two years to return to 9% growth, but a lot depends on global recovery, says BA Prabhakar, CMD, Andhra Bank. In an interview with ET , Prabhakar says the RBI may cut policy rates in April, but lending rates will decline only after six...
NEW DELHI: The government is readying to address the concerns of foreign brands owning stores in India over the requirement of mandatory procurement of 30% inputs from local small and medium enterprises. A senior official told ET that the industry ministry is open to review, revise and even waive...
NEW DELHI: The government may issue a Presidential directive to Coal India (CIL) this week to enter into fuel pacts with power producers with 80% supply commitment, after taking stock of the PSU’s production plan. The development comes in the wake of CIL failing to meet the PMO directive...
Mumbai: The recent purchase of a minority stake in Hyderabad-based roads-to-township builder IVRCL by two Essel Group companies promoted by media baron Subhash Chandra might be a test case for how the new takeover code will pan out in case of companies where promoter holdings are low. Chandra’s two...
MUMBAI: From Monday, foreign institutional investors (FIIs) remitting funds from sale of securities will have to deal with the possibility of a tax liability later. Many chartered accountants and audit firms will add a caveat when FIIs ask for a clearance chit required for remitting funds abroad. As per...
From L S Herdenia BHOPAL: A ghastly incident, in which a mother was killed for daring to report the gang rape of her daughter, has shaken the conscience of the political, administrative and police circles of Madhya Pradesh. The traumatic incident took place in Betul—a predominantly tribal district of...
By B.K. Chum in Chandigarh The euphoria over securing second successive term has lasted merely a fortnight. The Akali-BJP government now finds itself in the dock for two reasons. First, the controversy generated over proposed hanging (since stayed) of Balwant Singh Rajoana for the assassination of former Punjab Chief...
New Delhi: International Coal Ventures Ltd (ICVL) is within a striking distance of acquiring its maiden coking coal asset abroad in Australia’s Bowen Basin for about R 1,500 crore, a top official said. ‘‘This (the acquisition in Australia) is going to happen very soon. All necessary formalities have been...
New Delhi: The hike in rail passenger fares for second class suburban and non-suburban, Sleeper, AC Chair Car and AC 3-tier was today rolled back with the new Railway Minister Mukul Roy dubbing it as a “huge drain” on the pocket of masses. He, however, kept untouched the increase of...
MUMBAI: The Aditya Birla group, which built the world’s seventh-largest cement business largely through acquisitions, is in talks to buy north-eastern cement maker Adhunik MSP Cement’s Meghalaya plant for over Rs 700 crore. Group firm UltraTech Cement wants to buy the 1.5-million-tonne unit and bolster its presence in the...
MUMBAI: The Reserve Bank of India on Wednesday tightened rules for lending against gold by finance companies, saying the rapid growth in such loans in the past few years had increased risks to the banking system and retail investors. The banking regulator has directed that companies having half their...
Parliament was today rocked by reports of an alleged coal scam to the tune of Rs 10.7 lakh crore with the Opposition forcing adjournment of both the Houses till noon. As soon as the Lok Sabha met for the day, JD-U members were on their feet demanding immediate discussion...
“CII welcomes the increase of budgetary allocation for Defence Capital expenditure to INR 79, 578 Crores, i.e. 20.31 percent increase over the revised planned expenditure for the fiscal year 2011-12. Though most of the capital expenditure is expected to be absorbed by the recently announced and the ongoing defence...
By Kalyani Shankar It is said that a week is long in politics. The current week has shown how true it is. While the doubting Thomases were speculating about the stability of the UPA 2 when the budget session began, it is clear now that no party wants to...