Amid opposition call for his resignation over the Beed sarpanch murder case, Maharashtra minister Dhananjay Munde on Wednesday said he is ready to quit if asked by Chief Minister Devendra Fadnavis or deputy CM Ajit Pawar.
The Competition Commission of India has slapped Coal India Ltd with a penalty of Rs 1,773 crore (Rs 17.73 billion) -- the biggest by the watchdog on a company -- over alleged abuse of its monopolistic position.
The government's move is crucial as the state distribution utility MahaVitaran was purchasing about 95 per cent of power since the Dabhol project began generation in April 2006
State power minister Ajit Pawar has told the MahaVitaran, MahaGenco and MahaTransco to upgrade infrastructure to meet challenge of another 25,000 Mw, spread the network quickly, cover uncovered areas, separate out feeders and improve efficiency in providing quality service to customers.
The company has been awarded the contract by Mahagenco, a government of Maharashtra power generation company, Moser Baer India said in a filing to the Bombay Stock Exchange.
Power-deficit Maharashtra has firmed up plans to generate and supply a whopping 17,000 MW of additional power in next three to five years.
The Competition Commission of India (CCI) is to be congratulated for imposing a large fine, of nearly Rs 1,800 crore (Rs 18 billion), on Coal India Ltd for alleged abuse of its monopolistic position.
Around 7 billion units of coal power valued at Rs 2,400 crore lost due to drought.
The upcoming July derivatives expiry later in the week would also add some volatility to the market proceedings.
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