Maiki South Mining Pvt Ltd has bagged the country's first lithium block in Chhattisgarh that was put up for sale, the government said on Monday. Meanwhile, the government cancelled the auction of 14 critical minerals that were on offer in the second round of auction. The Katghora lithium and rare earth elements (REE) block in Chhattisgarh was awarded to the company at an auction premium of 76.05 per cent.
One of the challenges for those car graves is that Indian owners often find markets for their old cars rather than send them to scrapyards.
This is the first time India is offering coalmines to private companies for commercial sale.
The first ever auction of non-core assets through the Department of Investment and Public Asset Management's (DIPAM) asset monetisation portal has failed to garner adequate response for land assets of Bharat Sanchar Nigam Ltd (BSNL) that was expected to garner at least Rs 470 crore. The DIPAM has asked its property consultants to identify issues in the bidding criteria that can be resolved. In November 2021, the DIPAM had listed six properties of BSNL and MTNL for sale through its new e-bidding portal for asset monetisation portal developed by state-run MSTC.
It is estimating that this would help monetise assets worth Rs 10,000 crore.
The long-awaited 5G spectrum auction is expected to be held in May this year if the Telecom Regulatory Authority of India (Trai) submits by March its recommendations on the rules regarding the sale process, according to a senior official of the telecom department. Telecom Minister Ashwini Vaishnaw earlier this month said the Trai has informed that it will submit its recommendations for the 5G auction by March and the Department of Telecommunications (DoT) is simultaneously firming up other processes to hold the auction at the earliest. "Trai has indicated that they will send it (recommendations) by March. "Thereafter, it will take us a month to make a decision around it," telecom secretary K Rajaraman told PTI.
The Centre is considering relaxing some norms that led to the failure in attracting bids for assets of Bharat Sanchar Nigam (BSNL) and Mahanagar Telephone Nigam (MTNL) as they look to restart the auction for their non-core assets. The Department of Investment and Public Asset Management (DIPAM) had listed six properties of BSNL and MTNL for sale through its new e-bidding portal, developed by state-run MSTC, but the auction failed to garner an adequate interest. DIPAM had asked government-appointed property consultants to identify issues in the bidding criteria for resolution.
The IPL uses this system for players' auction.
The 225-seater plane was later converted to 25-seater plane by Vijay Mallya for his personal use.
The five-acre facility, set up by M&M through a joint venture with government owned company MSTC, went on stream in April this year
The earlier attempt at its auction had received a bid of Rs 1.09 crore as against the then reserve price of Rs 152 crore
For deciding which vehicles are to be scrapped, the setting up of fitness centres and regulating them would be a humongous task.
The Income Tax Department had last month auctioned several art works that were owned by absconding diamond merchant Nirav Modi for Rs 59.37 crore.
The government also sought approval from Parliament for equity infusion worth Rs 2,345 crore into struggling Air India and another Rs 1,300 crore for Air India Asset Holding.
Non-mineral-rich states will benefit from tariff concessions.
"We have appointed a committee to examine the structure and functioning of four companies (MSTC, FSNL, KIOCL and HSCL) and make recommendations regarding their re-organisation, merger with other companies or other structural re-organisation as warranted," Steel Secretary P K Rastogi told PTI. The steel ministry is of the view that the proposed restructuring will enhance the efficiency and profitability of these companies, Rastogi said.
A chunk of divestment till now has come from follow-on offerings in the Centre's two ETFs, Bharat-22 and CPSE. Now, there will be initial public offerings of Mazagon Docks, rail companies RVNL and IRFC and MSTC.
UAE-based aviation support company Alna Aero Distributional Finance Holdings offered only Rs 1.09 crore.
On June 30, the department had rejected the sole bid of Rs 1.09 crore offered by the United Arab Emirates-based aviation support firm Alna Aero Distributional Finance Holdings, against a reserve price of Rs 152 crore
Out of 11 companies that got listed in 2019, nine have outrun the market by gaining more than 10 per cent against their respective issue price.
SGI Commex contended that though it had won the bid, it is yet to receive a communication from the department to this effect and unless it gets such a letter, it will not be in a position to pay the dues claimed by MIAL
The success of the auction may not be more than a little step in Pearls Agrotech Corp's recovery process of over a Rs 49,100 crore plus interest
The 25-seater aircraft is interspersed with plush sofas, a cushioned bed, bars, showers and a bathrobe
SGI Commex chairman G S Srivastava, an art connoisseur, said the aircraft, an Airbus A319-133 with registration of CJ VT-VJM, will be converted into an art pilgrimage venture
Those for power sector to see tussle between prior owners & new challengers
He is known for his paperless style of working.
Power Minister Piyush Goyal on the government's manufacturing push and other key issues.
'The regional market has been brought to life. This is a big development in India's aviation sector,' says Civil Aviation Minister Jayant Sinha.
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