UK's Cairn Energy Plc has offered to forego $500 million and invest that amount in any oil and gas or renewable energy project identified by the Indian government if New Delhi agrees to honour an international arbitration award and returns the value of loss it incurred because of being taxed retrospectively, sources said. The Scottish firm invested in the oil and gas sector in India in 1994 and a decade later it made a huge oil discovery in Rajasthan. In 2006-07, it listed its Indian assets on the BSE. Five years after that the government passed a retroactive tax law and billed Cairn Rs 10,247 crore plus interest and penalty for the reorganisation tied to the flotation.
Each vaccination session will cater to a maximum of 100 beneficiaries and the Union Health Ministry has advised states not to organise 'unreasonable numbers of vaccination per site per day'.
The CoWIN portal will be made available in Hindi and 14 regional languages by next week, while 17 more laboratories will be added to the INSACOG network to monitor the variants of COVID-19, the health ministry said on Monday.
The utility helicopters will be used in attack missions as well as for search and rescue and surveillance operations.
'Is China's intention not clear?' 'Do we still think that if we are nice to China, it will be good to us?'
On June 1, 2010, under Indian Ports Act, 1908, govt declared Port Blair as 13th major port in India
The Centre's push to sell Air India on priority has led to delays in other strategic divestment proposals, such as privatising United India Insurance, as well as ongoing transactions, such as Shipping Corporation of India (SCI) and Bharat Petroleum Corporation (BPCL), revealed multiple officials involved in the process. The Department of Investment and Public Asset Management (DIPAM) is yet to take new privatisation recommendations of the NITI Aayog to the core group of secretaries on disinvestment (CGD) headed by the Cabinet secretary, said one of the officials. The priority now is to ensure all approvals for Air India are in place since the government intends to hand over the national carrier as early as this month.
Two weeks after the vaccination programme started, about 37 per cent of the targeted 10 million healthcare professionals had received the first shot. This slow rate may prompt the government to allow vaccines in the private market sooner, to use up the doses before they expire, Sohini Das reports.
Around 15 years ago, when Reliance Industries (RIL) struck natural gas in the Krishna-Godavari (KG) basin off the east coast, the government made plans to supply that fuel cheaply to scores of generators that sprang up in India triggered by the discovery. Most of the plants, which account for 6 per cent of India's total generation capacity, operate sparsely after the KG-D6 area first failed to meet production targets, and then finally shut shop. Affordable domestic gas was why those thermal plants came up and the rate of the fuel today is why those generators hardly operate. Record liquefied natural gas (LNG) rates may yet again unravel India's ambitions to expand use of gas in industries, households and vehicles. Rates, while volatile, may stay strong this decade as developed nations with higher purchasing power embrace gas as the transition fuel.
Britain's Cairn Energy has secured a French court order to seize 20 Indian govt properties to recover arbitration award, it is learnt.
Yuri Alemao, Altone D'costa and advocate Carlos Alvares Ferreira, the three Congress MLAs who didn't join the eight of their former party men in jumping ship speak up about their decisions and their motivations to stay with the 137-year-old Congress.
The Union home ministry on May 13 had declared that these canteens will only sell indigenous or "swadeshi" products from June 1 in a bid to give fillip to domestic industries.
The agreement provides for creation of an enabling framework for closer cooperation and interoperability, besides allowing militaries of the two countries to use each other's bases and facilities for repair and replenishment of supplies, the official said.
Admiral describes it as 'a path-breaking change'; defence ministry official disagrees.
Gujarat reported 2,165 cases, Maharashtra 1,188, Uttar Pradesh 663, Madhya Pradesh 590, Haryana 339 and Andhra Pradesh 248 cases.
UK's Cairn Energy Plc plans to bring lawsuits in the US and other countries to pierce the corporate veil between the Indian government and its owned companies such as in oil and gas, shipping, airline and banking sectors, to seize their overseas assets to recover $1.2 billion ordered by an international arbitration tribunal. The firm has moved courts in the US, UK, Canada, France, Singapore, the Netherlands and three other countries to register the December 2020 arbitration tribunal ruling that overturned the Indian government's Rs 10,247 crore demand in back taxes and ordered New Delhi to return $1.2 billion in value of shares it had sold, dividends seized and tax refunds withheld to recover the tax demand. With the government so far refusing to honour the arbitration award and instead choosing to challenge it, Cairn is looking to enforce it by seizing overseas Indian assets, Dennis Hranitzky, head of the sovereign litigation practice at Quinn Emanuel Urquhart & Sullivan, a law firm representing the company, told PTI.
The Supreme Court on Monday ordered maintenance of status quo on India's first aircraft carrier 'INS Vikrant' which is on the verge of being converted into scrap.
The GoM was told that six states -- Maharashtra, Delhi, Gujarat, Tamil Nadu, Uttar Pradesh and West Bengal -- account for 86 per cent of the deaths caused by COVID-19 and 32 districts account for 80 per cent of such fatalities, the Union health ministry said.
This is the latest in a string of tests by North Korea in defiance of United Nations sanctions.
The Bombay High Court on Monday directed the Union and the state governments to file replies to a petition demanding that IMS Vikrant, India's first aircraft carrier, now decommissioned, be preserved and not scrapped.
"After friendly consultations between the Chinese and US sides, the handover work for the US underwater drone was smoothly completed in relevant waters in the South China Sea at midday on December 20," a brief Chinese ministry statement said without providing details.
It also expressed confidence that the cleaning operation will be finished in a couple of days.
Singh will succeed Admiral Sunil Lanba who retires on May 31.
A year after their abduction by Somalian pirates, 28 Indian sailors on board two ships have been released and will sail for home, bringing huge relief to their families.
'The F-21's capabilities far exceed all other torpedoes currently in service.'
The Centre is likely to privatise profit-making enterprises, reversing its previous position of first closing or merging loss-making state-run units. The NITI Aayog, which is in the process of selecting public sector units for privatisation, is likely to put out its first list, focusing on companies in non-strategic sectors, along with those that have got Cabinet approval for stake sale, or are in final stage of due diligence. "The shortlisted firms will be put out in three-four tranches, with the first list comprising non-strategic ones, followed by strategic sectors with a focus on privatisation and not divestment," said a senior government official privy to the plan. He said the first report was expected in early April. The think tank approach is in sync with the government's new strategies on privatisation and asset monetisation.
Expressing grave concern over a US nuclear-powered submarine sustaining damage in the disputed South China Sea, China on Friday demanded Washington to reveal the details and the location of the accident and blamed America's frequent air and naval sorties in the Indo-Pacific to assert the "freedom of navigation" as the "root cause" of the incident.
IMD has decided to increasingly use cutting-edge technology such as artificial intelligence (AI) and machine learning (ML) in forecasting, both to avoid such glitches and to counter the disruption of normal seasonal patterns as a result of climate change. It has formed various internal sub-groups of senior officials and meteorologists to decide on how best to use AI and ML in predicting cyclone intensity, and in making short-range weather forecasts (those valid for up to three hours) as well as long-range forecasts.
One of the biggest lessons for cities fighting the Covid-19 pandemic has been the criticality of access to data. Mumbai, which has shown significant success in managing the second wave of the pandemic, is a case in point, reports Shivani Shinde.
On February 19, India's largest private low-fare airline IndiGo announced the resignation of one of the two founders, Rakesh Gangwal, from the airline's board and his intentions of offloading his stake in the airline over the next five years. The announcement came on a Friday, giving the stock markets the weekend to absorb the news but the markets registered a tepid response on Monday's opening. In contrast, in July 2019, when the fight between the two founders and erstwhile friends first became public, the markets reacted savagely. The IndiGo scrip at the time fell 19 per cent, wiping out millions of rupees of shareholder wealth before bouncing back. For readers who may be hazy on the details of the dispute, here is the context.
By refusing permission for the proposed ship-breaking facility, India can send a categorical message to the foreign ship owning countries that they should keep their own waste and recycle
Grieving relatives of those on board the ill-fated cruise ship that capsized in the mighty Yangtze were on Thursday barred from reaching the site as rescuers pulled out more bodies, taking the death toll to 77 amid assurances from China of "no cover up" in the probe into the tragedy.
India is the second-largest technology hub for Amazon globally and its teams are powering innovations not only for customers in the country but globally as well, a top company executive said on Thursday. Speaking at Amazon India Career Day, Amazon global senior vice president and country head India Amit Agarwal said the e-commerce company employs over one lakh professionals in India across diverse areas from engineering, supply chain, content creation, marketing, video and others. "India is also the second-largest technology hub for Amazon globally, with some of the most talented software developers, product managers, machine learning scientists, and research scientists as part of the team," he said.
Cairn has already taken steps to have the arbitration award recognised in nine major jurisdictions such as the US, UK, France, the Netherlands, Singapore and Canada's Quebec province, where Indian sovereign assets have been identified. It hasn't said what it might go after but assets could include Air India's planes, vessels belonging to the Shipping Corporation of India and property owned by state banks.
Two navy destroyers, the INS Kochi and INS Chennai, fired MR-SAMs simultaneously at two simulated incoming missiles.
The Shipping Ministry on Monday said it has set a target of awarding 30 projects, entailing Rs 24,633 crore investment, for the current fiscal to add 288.48 million tonne capacity.
'We have reached a new low.'
Not one joke lands, not one tear is genuine in Sardar Ka Grandson, feels Sukanya Verma.
BrahMos Aerospace, an India-Russia joint venture, produces the supersonic cruise missile that can be launched from submarines, ships, aircraft, or from land platforms.
The GoM was apprised that as of now, the death rate is around 3.1 per cent while the recovery rate is more than 20 per cent, which is comparatively better than most of the countries and may be taken as a positive effect of the lockdown in the country, along with the cluster management and containment strategy.
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