The monthly electricity bills of the majority of domestic consumers in Delhi -- who use more than 200 units and up to 600 units -- will be hiked by up to Rs 265 due to an increase in the power purchase adjustment cost (PPAC) levied by discoms in the city, officials said on Monday.
Three experts from Western Coal Fields, a subsidiary of Coal India Limited, camped at the Silkyara tunnel site from November 20.
'India's top companies currently lack the organisational wherewithal to hire and train 2 million interns annually, given their current scale of operations and existing employee base.'
Stepping up pressure, the Bharatiya Janata Party on Thursday demanded Prime Minister Manmohan's Singh resignation after the Centre admitted before the Supreme Court that something went wrong with coal blocks allocations.
The CAG report, tabled in Parliament on Tuesday, said because of non-deployment of pay loaders, South Eastern Coalfields Ltd, a CIL subsidiary, failed to utilise gainfully the existing crushing facilities and to earn an additional revenue of Rs 12.76 crore (Rs 127.6 million) during June 2010 and May 2011.
Rejecting the plea, the court said the application was "vexatious" and it was apparently moved to delay the trial.
The court said accused cannot leave India without getting its permission.
Eight investment banks including HSBC and India's ICICI Securities and SBI Capital have submitted bids to manage a 10-per cent stake divestment in state-owned Coal India.
The decision was taken by the ministry this week, a top Coal Ministry official said, while refusing to reveal the names of the companies.
The government on Friday asked three firms, Tenughat Vidyut Nigam, Andhra Pradesh Power Generation Corp and Jharkhand State Mineral Development Corp, to begin production from coal blocks allocated to them for captive use without further delay.
Congress Member of Parliament Naveen Jindal and former minister of state for coal Dasari Narayan Rao have been named as accused in the fresh FIR filed by the Central Bureau of Investigation in connection with the coal allocation scam. Congress Member of Parliament Naveen Jindal and former minister of state for coal Dasari Narayan Rao have been named as accused in the fresh FIR filed by the Central Bureau of Investigation in connection with the coal allocation scam.
According to an Andhra government statement, Naidu 'reposed confidence' in the PM's leadership.
'Officers have been made the scapegoat for political failure.' 'No effort has been made to find out who scuttled the prime minister's decision to introduce competitive bidding and why and at whose instance.'
Polling is scheduled in all 13 seats of Punjab and four of Himachal Pradesh, 13 constituencies in Uttar Pradesh, nine in West Bengal, eight in Bihar, six in Odisha and three seats in Jharkhand besides Chandigarh.
The Central Vigilance Commission has convened a meeting with Central Bureau of Investigation Director Ranjit Sinha to discuss the missing files with details of coal block allocations.
"The coal ministry intends to purchase the house and build a memorial on it," minister of state for coal Shriprakash Jaiswal told PTI, adding directions have been given to the officials of the ministry to purchase the house 'at any cost.' The minister said he, along with officials of Coal India Limited, will be visiting South Africa on August 17 in this connection.
The Opposition on Monday vociferously raised in the Rajya Sabha the issue of crucial files of the coal ministry going missing, alleging that it was a conspiracy to save Prime Minister Manmohan Singh in the multi-crore-coal block allocation scam being probed by the Central Bureau of Investigation.
Jindal Steel and Power Ltd has shelved a $10 billion coal-to-diesel project, its chairman told Reuters, becoming the first big casualty of a court decision to scrap coalfields allocated to private firms since 1993.
Kangana Ranaut, who is the BJP candidate from her hometown Mandi, Himachal Pradesh, feels Prime Minister Narendra Modi is an 'ansh' (part) of Lord Ram and Lord Vishnu.
'The central learning of the day was that if the BJP leadership can cajole, coax and convince regional parties to vote for bills, it would not be a stretch to see the same votes cast in favour of the land bill,' a senior Congress leader from a northern state told Rediff.com
With the Supreme Court (SC) cancelling captive coal block allocations, Jindal Steel & Power Limited will be the worst-affected company.
The Supreme Court on Monday held that all coal block allocations made since 1993 till 2010 before pre-auction era during previous National Democratic Alliance and United Progressive Alliance regimes have been done in an illegal manner by an "ad-hoc and casual" approach "without application of mind".
The Central Bureau of Investigation has dispatched its teams to Chhattisgarh and Jharkhand to probe alleged beneficiary companies in the controversial coal block allocation.
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Adani CEO Jeyakumar Janakraj said the Adani issue was not on the agenda of Jaitley's visit.
Coal India IPO has become a runaway success, beating all records to become the largest public issue in India.
Contrary to the CAG report, the true scam is not exclusive to the UPA, or one for which it bears the prime culpability. Rather, it's a collective or collusive scandal, with both the UPA-ruled Centre and the non-UPA states reaching a nice 'match fixing'-style arrangement to snatch away coal mines from public sector companies and allot coal-mining leases to shady business interests, says Praful Bidwai.
Some states are taking a legal view on the state GST rate and the compensation rules ahead of the Goods and Services Tax (GST) Council meeting, which is likely to be held in mid-June, said people in the know. While the agenda is still being finalised, several states are likely to take up the matter related to GST compensation and may pitch for its continuation beyond the June 30 deadline. States would like to know how they would divide the compensation collected after June 2022 for payment of principal and interest of compensation shortfall borrowing and arrears to states, sources said.
Despite high exposure of public sector banks to power, iron and steel sectors, analysts remain in a wait-and-watch mode.
The Central Bureau of Investigation is likely to file its status report in the coal scam before the Supreme Court on Tuesday stating details of its 14th FIR against Hindalco and others and also progress in the remaining 13 cases.
In 11 out of 29 coal mines successfully e-auctioned, a number of qualified bidders in the e-auction stage were from the same company/parent subsidiary company coalition/joint venture, CAG said.
The Central Bureau of Investigation on Tuesday filed a fresh status report in a sealed envelop in the Supreme Court on coal block allocation scam giving details of the ongoing probe in which companies, business tycoons and bureaucrats have come under its scanner.
'To sustain our growth trajectory, we must continue to explore and capitalise on growth opportunities.'
Operating margins have been the primary driver of corporate earnings in India in recent quarters, despite revenue growth suffering from weak consumer demand. Companies across sectors have reported a sharp improvement in earnings before interest, tax, depreciation, and amortisation (Ebitda) margins over the past two years, benefiting from lower commodity and energy prices. Higher margins more than compensated for slower revenue growth, resulting in double-digit growth in net profit for five consecutive quarters.
Assocham president Niranjan Hiranandani said his talks with government officials showed dues to industry and states were pending in the form of refunds of income tax, value-added tax, and GST, and compensation, payments to discoms in the power sector, fertiliser subsidies, etc.
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The newly appointed CMD at Coal India has a tough road ahead.
A bench comprising Justices Sanjiv Khanna and Dipankar Datta took note of the submissions of lawyer Prashant Bhushan, appearing for NGOs 'Common Cause' and the Centre for Public Interest Litigation, that the plea needed to be listed for hearing at the earliest.
The deadline for these overseas mining firms for responding to CIL's EoI notice is August 31 this year.
The ruling Bharatiya Janata Party in Madhya Pradesh on Wednesday claimed that had the Centre implemented the "transparent policy of the state government", it could have earned an additional revenue of Rs 13 lakh crore in coal allocation, where a loss of Rs 1.86 lakh crore was incurred.
Tata Steel has built an iron ore chest of nearly 600 million tonnes (mt) and will look for more as it prepares for life beyond 2030 when its legacy captive mines come up for auction. The lease for four of its existing iron ore mines -- Joda East, Noamundi, Katamati, and Khondbond -- that feed the domestic operation with low-cost iron ore is going to expire in 2030, following changes in mining regulations. The year will also coincide with Tata Steel's ambitious target of doubling steelmaking capacity in India to 40 mt, increasing the need for iron ore. The company is pushing the pedal to ensure that it has enough resources to meet enhanced needs.
The ministry has also noted the controversial proposal of opening up the coal sector and restructuring of CIL.
