The Central Bureau of Investigation could question Odisha Chief Minister Naveen Patnaik in connection with alleged irregularities in allocation of coal block to Hindalco as he had written a letter to the Coal Ministry after application of the Aditya Birla company was rejected in 2005.
The government has garnered Rs 2 lakh crore by auctioning 33 blocks.
A senior official in the central labour commissioner's office said the efforts of the government were to resolve the cases amicably and not to press for legal action against employers. "Everyone is going through tough times. We could initiate legal action if we want but that's not the idea. We want to address the issues amicably," the official said.
Almost all major metal and mining firms would be affected by the Supreme Court ruling canceling 214 coal blocks, but Naveen Jindal's JSPL and Aditya Birla Group's Hindalco would be among the worst hit, analysts said.
'We have instructed all our officials to take complaints of water shortage seriously and attend to it immediately.'
Lines up seven OFS issues along with half a dozen IPOs for the next few months
The Coal Ministry has issued show-cause to eight firms including Hindalco Industries and Mahanadi Coalfields, and sought explanation from five firms for delays in commencing production from mines allocated to them.
Finance Minister Arun Jaitley, in the Budget for 2015-16, is likely to target around Rs 43,000 crore (Rs 430 billion) from divestment proceeds, almost the same level that the government expects to realise from stake sale in PSUs this fiscal.
PSU employees will now get an option to subscribe up to 5 per cent of the issue size at a discount after the completion of disinvestment in the concerned state-owned company.
Market breadth was weak with 1239 losers and 1078 gainers on the BSE.
An Inter-ministerial panel had last month approved 10 per cent equity sale in Coal India. At present, the government holds 90 per cent stake in the firm.
In the factory, workers said Friday was the last day as far as production was concerned.
In Chennai, rains are expected to start early Thursday morning and intensify gradually. Government schools in the city have been shut down for the next two days
Going by the experience of the previous years -- when the actual proceeds from stake sale were much lower than the targets -- the government's disinvestment target for 2014-15 appears too ambitious.
While critics and protestors have multifarious arguments to offer, the defence of CAA has been uni-dimensional and uni-focussed as has been the case with most policies of the Modi government and the political positions of his party. But to be drawn into an issue that has assumed more than local and national dimensions, Rajini has knowingly or otherwise, taken the plunge and in favour of the BJP -- or, so it has come to be seen, says N Sathiya Moorthy.
CBI is likely to examine soon Hindalco chairman Kumar Mangalam Birla and former Coal Secretary P C Parakh, who are named as accused in the FIR related to Talabira coal block allocation to Hindalco, as it wants to expedite probe.
State pegs total loss due to rains at Rs 8,481 crore.
Odisha Chief Minister Naveen Patnaik may be questioned by CBI for writing a letter of support in favour of Hindalco, an Aditya Birla group company, after its bid for coal mines was rejected by coal ministry.
'We will have a well-designed product, and not a compromise.' 'We will make a completely contemporary vehicle, in keeping with consumers' aspirations, not like the Nano, which disappointed them,' Sajjan Jindal tells Shreekant Sambrani.
A change in recommendation in favour of Birla did certainly happen but the question is whether it was a bona fide decision. Jyoti Mukul reports
I believe this is what really happened at the Congress Working Committee on Wednesday.
The Supreme Court on Wednesday stayed the summons to former Prime Minister Manmohan Singh and 5 others by a trial court over the coal scam.
Firms generated free cash flows in 2013-14, for the first time since the 2008 Lehman crisis
Investor confidence has evaporated amid fears over the rising cost of funding India's gaping current account deficit, prompting New Delhi to delay plans to raise much-needed funds through partial privatisations, finance ministry sources said.
'Some TV channels are wrongly reporting that the Honourable CM is no more. It is totally baseless and false,' the hospital says.
Dr Manmohan Singh's role in the sordid saga of the Coal Allocation Scam was always Delhi's worst-kept secret; calls for his interrogation will mushroom after he was named by P C Parakh, says T V R Shenoy.
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Crony capitalism will of course generate investment and ensure profit for private capital, but it won't give employment or income to the people. If you can make money by selling coal or speculating in land, why produce electricity, why invest in research and development, why even set up factories, asks Praful Bidwai.
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