BS Yeddyurappa resigns, Congress-JD(S) to form government in Karnataka
Walmart, Flipkart deal signals churn in e-grocery
Who will save the Constitution?
Inside track: From speed with which JD(S)-Congress stepped in to stake claim to form Karnataka government to Congress performance a blow to Rahul Gandhi
UIDAI won’t know, say, if one has a car... Even if national security is invoked, it can’t tell you this: CEO Ajay Bhushan Pandey
- Walmart, Flipkart deal signals churn in e-grocery
- BS Yeddyurappa resigns, Congress-JD(S) to form government in Karnataka
- Build habitats, not just buildings, says Pritzker Prize winner BV Doshi
- Inside track: From speed with which JD(S)-Congress stepped in to stake claim to form Karnataka government to Congress performance a blow to Rahul Gandhi
- Who will save the Constitution?
Surya Sarathi Ray
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‘Asset Stripping’: NCLT orders JAL to return land to Jaypee Infra
The Allahabad bench of the National Company Law Tribunal (NCLT) on Thursday ordered that 858 acres of land of bankrupt Jaypee Infratech (JIL) which was transferred by the firm to its holding company Jaiprakash Associates (JAL) be transferred back to the former as the transfer was “fraudulent, preferential and undervalued”.
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JIL Insolvency: Lakshadweep offers raised bid but CoC may await SC order
Lakshadweep, a joint venture between Sudhir Valia-led Suraksha ARC and Dosti Realty, will look at “improving” its bid for Jaiprakash Infrastructure (JIL) if an opportunity is afforded to it, sources close to the development told FE.
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ERA Infra: RBI’s dirty dozen now all in NCLT
Era owes banks little over Rs 10,000 cr; CBI booked UCO Bank ex-CMD in Rs 621-cr fraud.
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NCLT: Tata Steel appeals against Liberty bid
Tata Steel on Tuesday moved the National Company Law Appellate Tribunal (NCLAT) challenging an April 23 order of the National Company Law Tribunal
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Bhushan Power RP asks SBI Cap to evaluate 3 bids
Lenders to the Bhushan Power and Steel (BPSL) are likely to meet next week to choose the most eligible bidder for the troubled steelmaker. Sources said BPSL’s resolution professional (RP) Mahender Kumar Khandelwal has now asked, after the lenders said no to a second round of bidding, investment banker SBI Capital Markets to evaluate the three bids from Liberty House, Tata Steel and JSW Steel.
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No second round of bids for Bhushan Power
Lenders to Bhushan Power and Steel (BPSL) have rejected the proposal for a second round of bidding for the troubled steel-maker, a development that could well cheer UK-based Liberty House, which has submitted the highest bid for the beleaguered firm, though after the designated deadline.
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Bhushan Power: Final call on second round of bids on Tuesday
The committee of creditors (CoC) for Bhushan Power and Steel are in the process of deciding whether to go for a second round of bidding or not. Sources said that after the voting process initiated by the resolution professional (RP) concludes on Tuesday, a final decision in this regard will emerge.
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Essar Steel bid: ArcelorMittal moves NCLAT
On Friday, ArcelorMittal challenged the disqualification, saying it had exited from Uttam Galva, a defaulter company, before submitting a bid for Essar Steel on February 12.
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EPFO numbers: Jobs jumped. Or did they?
EPF base has expanded at faster clip in recent years, aided by an amnesty scheme and other policy support, but this hardly reflects job growth
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Modi government is working on new labour law protecting dignity of workers; details here
The government has drafted a new labour law, with the overriding objective of ensuring workers’ dignity and well-being at the workplace.
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Govt allows re-auction of mining leases before expiry
To preempt crunch in supply of non-coal minerals when 288 merchant mining leases expire in April 2020, the government has amended the rules for mineral concession and development to pave way for re-auctioning of these leases even before their expiry.
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PNB fraud: Government seeks power to attach perpetrators’ properties
However, the tribunal had restrained the accused and 62 others associated with them from removing, transferring or disposing of funds, assets and properties of entities and individuals.
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2018-19 target: Centre aims to build highways at 45 km per day
Under the new regime, it grew to 12 km/day in 2014-15 and 16.6 km/day in 2015-16, creating a record of 22.5 km/day in 2016-17 and yet again to an all-time high of 27 km a day in the last fiscal.
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Allocation of offshore non-hydrocarbon mineral blocks to take auction route
India is surrounded by the Indian Ocean on the south, the Arabian Sea on the south-west and the Bay of Bengal on the south-east.
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Steel slag may now be used as fertiliser for soil
Steel slag, an unavoidable by-product in iron and steel production, may soon finds its way into agricultural land as soil nutrient, potentially cutting down India’s dependence on fertiliser imports.
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95 non-coal mines may be auctioned in FY19
As many as 95 non-coal mineral blocks may go under the hammer in 2018-19, in what could stimulate investments in the mining sector and potentially fetch mineral-rich states like Chhattisgarh, Jharkhand and Odisha Rs 3.5-4 lakh crore over a 50-year period.
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Tata Steel offers Rs 36,400 cr for acquiring Bhushan Steel
This means if Tata Steel’s resolution plan is approved by the National Company Law Tribunal (NCLT) and subsequently by the competition commission, which now appears to be just a formality, Bhushan Steel’s financial creditors including State Bank of India, Punjab National Bank and others will have to take a 37% haircut, while its operational creditors will have to take a 66% hit on their exposure.
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India beats Japan to emerge second largest steel maker
Japan produced 104.7 mt steel in 2017 compared with India’s 101.4 mt. In 2016, the gap was wider at 9.3 mt and 16 mt in 2015.
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Mining crisis: Expect Narendra Modi government to bring law soon
Whether the law will be passed in Parliament is not clear given the long disruption, so an ordinance can also be considered next month.
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Labour reform: Government notifies fixed-term jobs for all sectors
In line with an announcement made by finance minister Arun Jaitley in his latest Budget speech, the labour ministry has extended full-benefit, fixed-term jobs — already a feature in the labour-intensive garment and leather industries — to all sectors of the economy.
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Provident Fund: EPFO mulls investing in broader set of stocks
Keen on diversifying its investments in exchange traded funds, the Employees’ Provident Fund Organisation is considering investing in Nifty Next 50 and Sensex Next 50
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Goa mining: Fate of mine workers hangs in balance
As mining activities are set to stop in Goa on Friday in compliance with a Supreme Court order, James Frank, a mechanic at Vedanta’s Codli mine in South Goa is one among thousands of workers facing an uncertain future.
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Mineral royalties may soon be raised as govt mulls revision
Mineral-rich states such as Chhattisgarh, Jharkhand and Odisha are likely to mop up higher royalty receipts from the next fiscal, with the Centre considering a revision in the royalty rates.
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Goa miners pinning hopes on Act after adverse Supreme Court ruling
Miners in Goa are now pinning hope on a provision of the MMDR (Amendment) Act, 2015 that states that leases renewed prior to the legislation shall be deemed to have been granted for 50 years.
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Supreme order on MMDR Act impact: Miners stare at debilitating fines
Several state-run and private companies with principal or incidental interest in mining are being forced to cough up huge sums, potentially aggregating soon to Rs 1 lakh crore, as mineral-rich Odisha and Jharkhand have slapped recovery notices on them for “illegal mining”.
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India set to beat Japan in steel output, become second largest producer
Becoming the second largest producer to be a milestone given the target of 300 MT capacity by 2030-31.
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AK Chaudhary to take over as SAIL chief
Anil Kumar Chaudhary, now director finance st SAIL, has been chosen by the Public Enterprises Selection Board (PESB) to steer the company as its chairman.
