The Centre has stopped allocating coal blocks to state governments till the Mines and Mineral (Development & Regulation) Act is implemented with the amendments.
Over 75 per cent of India's daily coal output has been hit as the five-day strike by workers of state-run miners entered the second day on Wednesday, raising fears of disruption in power supplies.
Additional Solicitor General Haren Raval, who sparked a controversy by telling the Supreme Court that the Central Bureau of Investigation status report on Coalgate was not shared with the government, resigned on Tuesday from his post, the first head to roll on the issue.
Additional Solicitor General Haren Raval, who sparked a controversy by telling the Supreme Court that the Central Bureau of Investigation status report on Coalgate was not shared with the government, resigned on Tuesday from his post, the first head to roll on the issue.
In its draft report, the research agency has recommended linking the valuation of coal reserves to be put up for bidding to international prices.
Last week, the Indian markets were all about coal. However, amidst the hype over the debut of Coal India Ltd (CIL) on domestic bourses, what was mostly overlooked was the brand new logo of the world's largest coal miner.
After a year and a half of investigation, the agency has failed to name any public official involved in the scam.
The group has earmarked over Rs 4,000 crore (Rs 40 billion) to acquire coal mines in foreign countries.
Says Coal India is ready to sign at 80% trigger level, with 15% imported coal on cost-plus model.
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.
'For the last two elections, the Congress manifesto has been thrown into the dustbin.' 'This manifesto will also be thrown into the dustbin.'
The Central Bureau of Investigation on Monday questioned Arvind Jayaswal, director AMR Iron and Steel Private Limited, in connection with alleged irregularities in allocation of Bander coal block in Maharashtra to the company.
Central Bureau of Investigation on Friday registered two enquiries to look into the issue of missing files on coal block allocations from the Coal Ministry.
The judge summoned Birla as one of the accused in the case.
The output of eight infrastructure sectors registered a growth of 3.6 per cent in March 2023, the slowest in five months, showed government data released on Friday. The output of core sectors had increased by 7.2 per cent in February 2023 and 4.8 per cent in the year-ago month. The previous low was 0.7 per cent in October 2022.
They are arguing that it is a major source of greenhouse gas emission.
The Central Bureau of Investigation has questioned T K A Nair, advisor to Prime Minister Manmohan Singh, in connection with alleged irregularities in allocation of coal blocks, which included granting of a block to Hindalco at Talabira despite it being rejected by a screening committee of the coal ministry.
According to the report by Swiss firm IQAir released on Tuesday, India's annual average PM2.5 level in 2022 was 53.3 g/m3, slightly lower than the 2021 average of 58.1.
There was a sharp fall in power output on Thursday from a plant in Gujarat that left India more than 9,000 megawatts short of peak demand, according to two officials at the state grid operator.
The Cabinet may on Thursday take a decision on the draft Bill for setting up the coal regulatory authority.
An FIR was registered against Sinha for allegedly trying to influence the coal scam probe as the agency's chief.
As part of the energy sector reforms, government is trying to evolve a consensus on commercial mining of coal to promote development of the sector, Coal Minister Sriprakash Jaiswal said.
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An advocate on Thursday moved the Supreme Court seeking directions to the Central Bureau of Investigation to name Prime Minister Manmohan Singh in its FIR filed against industrialist Kumar Mangalam Birla and former Coal Secretary P C Parakh in a coal block allocation case.
The key hurdle Adani needs to clear to secure loans for the Carmichael mine, rail and port project is dredging approval to expand its Abbot Point port.
Major corporates are staring at an uncertain future after investing substantially on their projects
The Federation of Indian Chambers of Commerce and Industry (Ficci) president RV Kanoria calls for privatisation of Coal India Limited (CIL), the world's largest coal producer and India's public sector unit.
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.
'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.'
The committee headed by Bharatiya Janata Party MP Vinod Kumar Sonkar is meeting later on Thursday to adopt its draft report in what is likely to be hotly contested by opposition members of the panel.
However, there was no official word from the Lokpal.
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RPG Industries, Hindalco, SAIL, Jindal Steel, Monnet Ispat, GVK Power and Jaiprakash Associates among companies summoned for review.
Twelve rat-hole mining experts are involved in the horizontal excavation through the last 10 or 12-metre stretch of debris of the collapsed portion of the under-construction tunnel on Uttarakhand's Char Dham route.
The mine, designed to eventually produce 60 million tonnes a year of thermal coal used in power stations, has been the focus of opposition by green groups fighting new coal mines and the rail and ports needed to ship the coal.
The last year has seen public sector undertakings (PSUs) outperforming the Nifty50, albeit by a small degree. But PSU valuations are still, on average, less than half of private sector peers at price-to-equity or PE 8.7x for the Nifty PSU Index versus 20.9x for the Nifty50. There are several reasons for lower valuation.
"I am proud to announce the project has Final Investment Decision (FID) approval which marks the official start of one of the largest single Infrastructure -- and job creating -- developments in Australia's recent history," Gautam Adani said.
To ensure smooth allocation of 204 cancelled coal blocks, the government has set up a high-level inter-ministerial panel that would provide advise on policy issues and interact with the industry.
in the first lot 74 blocks will be auctioned, but the number of mines a company can bid will be capped to avoid monopoly.
The headline for corporate profit growth has been very encouraging in the July-September quarter (Q2) of 2023-24 (FY24), with the combined net profit of listed companies up by 38 per cent year-on-year. However, the earnings distribution has been very lopsided, with most of the growth coming from public-sector oil-marketing companies (OMCs), banks, non-bank lenders, automobile (auto) companies, and cement producers. By comparison, companies from information technology services, fast-moving consumer goods (FMCG), retail, and consumer durables were disappointed, experiencing a sharp slowdown in net sales growth and a relatively muted increase in reported net profit.
Company looking for acquisition of coal properties abroad.
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