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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.
Lines up a $1-billion capital expenditure plan for exploration purposes abroad.
A deal with the Assam government, which holds majority stake in the company through Assam Industrial Development Corporation Ltd, is likely by October.
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Three PSUs, three private firms join bid to acquire 40% stake in Haldia Petrochem.
The biggest problem is that those with Aadhaar numbers aren't coming forward for seeding these with bank accounts.
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.
At present, in Myanmar, GAIL and IndianOil have a minority stake in a gas pipeline which goes to China, through South East Asia Gas Pipeline Company.
The price would increase from $4.2/mbtu to $10/mbtu if Rangarajan formula is accepted.
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.
This is the second postponement of the DBT launch in LPG. It was initially planned to be introduced from January 1.
Relief seen from easing global crude oil prices, phased diesel decontrol and capping of LPG cylinders.
Not only does there appear to be no meeting ground on the issue of a pricing formula proposed by the committee, the petroleum ministry wants another committee headed by Vijay Kelkar to look into the other major recommendation of moving to the revenue sharing model in exploration and production.
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.
Prime minister's office wants OMCs to bear credit subsidy for remaining 8 subsidised units on reimbursement basis.
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