Reason behind for the change in his stance: gas price increase.
Clamping down on the delays in repatriating foreign exchange earnings, the Reserve Bank of India (RBI) has tightened norms for special economic zones (SEZs), asking them to realise and bring back full value of goods and services to India within a year from the date of export.
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The notice also said service tax amounting to Rs 28.08 crore (Rs 280.8 million), in addition to education cess of Rs 56 lakh and secondary and higher education cess of Rs 28 lakh (Rs 2.8 million) for the period between October 2007 and September 2012, should be recovered from Amity under the provision to sub-section 1 of section 73 of the Finance Act.
ONGC's chairman and managing director Sudhir Vasudeva tells Business Standard that any price for natural gas that is more than $4.2 a unit is good for the company.
A deal with the Assam government, which holds majority stake in the company through Assam Industrial Development Corporation Ltd, is likely by October.
Business opportunity after phased diesel deregulation the main trigger.
Reliance Industries Limited (RIL) is set to carry out a major restructuring exercise. Nine of its retail units would be merged with Reliance Retail and Reliance Fresh.
The company adopted the scheme from parent Suzuki, where employees are rewarded for making suggestions to improve productivity and cut wastage.
The price would increase from $4.2/mbtu to $10/mbtu if Rangarajan formula is accepted.
R-Power had produced the test certificate claiming March 30, 2013, as the date of commissioning.
A large part of this investment, about Rs 5,000 crore (Rs 50 billion), would go to the Paradip refinery
Oil marketing companies decrease distribution & production of fuel brands after huge drop in demand.
First right of refusal may be limited to firms working under NELP, leaving out pre-NELP blocks run by big firms such as RIL and Cairn India.
Railway officials said important projects at crucial stages would now be stuck for a long time.
Bansal's exit came at a time when some good investment and policy decisions were expected.
This year, Coal India plans to gauge the domestic market through a tie-up with MMTC and State Trading Corporation.
The finance ministry has rejected the formula and, instead, suggested an alternative that takes into account well-head prices of suppliers in Qatar, Oman, Abu Dhabi and Malaysia.
RIL also reported measures taken to check falling output in the KG-D6 field.
B-schools cite high inflation and rising operational costs behind the move.
LPG alone will save us Rs 8,000 cr a year: M Veerappa Moily.
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