(ET) In what is likely to help allay concerns of the power sector about the impact of insolvency proceedings against electricity producers, the government said the process under the Insolvency and Bankruptcy Code will not have any impact on their power purchase and fuel supply agreements. “There are enough NCLT (National Company Law Tribunal) rulings which say whatever supplies are essential for keeping the unit a ‘going concern’ cannot be stopped,” said a senior official. Companies have to have to make current payments for the supply of such goods and services during insolvency, he added. He said the government was clear…
Author: Amit Bhanot
(PTI) Prime Minister Narendra Modi visited the family members of former Union minister Arun Jaitley at his residence here on Tuesday and offered floral tributes to a portrait of the departed leader. Jaitley (66) passed away at the All Institute of medical Sciences (AIIMS) here on Saturday. Union Home Minister Amit Shah arrived at Jaitley’s residence earlier and received the prime minister along with Rohan Jaitley, the former Union finance minister’s son. Other family members were also present when Modi walked in and spoke to Jaitley’s wife and children. The prime minister spent about 20-25 minutes at Jaitley’s residence. Modi was on…
“Development of North-Eastern India is on high priority of the Union Government and a well developed power sector is prerequisite to the economic development in these States”, said Shri RK Singh, Union Minister of State for Power and New & Renewable Energy (IC) and Skill Development & Entrepreneurship. Shri Singh was speaking at the meeting of Chief Secretaries and Principal Secretaries of Power of North-Eastern States in Guwahati today. The meeting was also attended by the senior officers of Power Ministry and the representatives of the DISCOMS. In his opening address, the Minister recalled the achievements made during the past…
Urging ministers and representatives from 40 nations to make the most of a global platform aimed of youth displaying their skills across trades, Dr. Mahendra Nath Pandey, Hon’ble Minister for Skill Development & Entrepreneurship (MSDE), said it is critical for governments and industry to come together to turn skilling into a ladder for economic growth for all countries. He said that nations can leverage from India’s demographic dividend and India’s youth can contribute to their growth and development. Dr. Pandey was addressing a summit of ministers from different countries at Kazan, Russia, where the WorldSkills International Competitions, a biennial event, is underway.…
(LiveMint) In what may be a huge relief for companies, defaults on corporate social responsibility (CSR) obligations will not be treated as a criminal offence. Minister of finance and corporate affairs Nirmala Sitharaman on Friday said that corporate social responsibility-related violations will be considered a ‘civil liability’, instead of being treated as a ‘criminal offence’. “Ministry of corporate affairs will review the sections under the Companies Act. The government has provided companies, through revised orders, time for completing ongoing projects towards fulfilling their CSR obligations,” she said. Any changes in the provisions will require further amendments to the Companies (Amendment) Act. According to the law, every company…
(ET) Public sector banks may ask the government to allow farmers to borrow afresh even before clearing previous loans. This is one of the key takeaways from a branch level consultation exercise that has been going on for the past one week. Banks are collating inputs from grassroots employees, refining them and are likely to hand over the suggestions to the government in the first week of September, when Prime Minister Narendra Modi is set to hold a meeting with public sector banks. Banks are also seeking a more robust loan guarantee structure for Mudra loans, while they feel an umbrella…
(ET) Cabinet may take up a proposal to reduce stake below 51 per cent in some of the PSU companies in a month, The report added that the government is yet to decide on procedure and contours of bringing down the government stake below 51 per cent. “Cabinet likely to discuss bringing down stake in companies to 40 per cent,” the report said. There are expectations that Cabinet is likely to discuss the proposal for NTPC, NMDC, Coal India and BHEL. Shares of NTPC were trading 0.68 per cent higher at Rs 118.80 after the report, while NMDC were down 3.77 per…
(ET) State-run power generator NTPC’s Kaniha unit in Angul district of Odisha is facing coal shortage due to a strike by villagers at the Kaniha Open Cast Project (KOCP). The coal supply to the Kaniha unit from KOCP has stopped since August 18 due to a strike by villagers at the mines end, an NTPC statement said on Tuesday. NTPC has a 3,000 MW (6×500) super thermal power station at Kaniha near Talcher. Generation at NTPC’s Kaniha unit was severally hit due to stoppage of coal supply for almost two weeks following an accident at the Bharatpur mines on July 23. As many as four persons were feared dead after…
(Hindustan) मुख्यमंत्री योगी आदित्यनाथ मंत्रिमंडल के पहले विस्तार में बुधवार को 23 मंत्रियों ने शपथ ली। इसमें पांच का दर्जा बढ़ाते हुए उन्हें कैबिनेट मंत्री की शपथ दिलाई गई। इसके अलावा छह राज्यमंत्री स्वतंत्र प्रभार और छह राज्यमंत्री ने शपथ ग्रहण की। मुख्यमंत्री ने मंत्रिमंडल विस्तार में जहां युवा चहेरों को तरजीह दी है, वहीं जातीय व क्षेत्रीय संतुलन का भी पूरा ख्याल रखा। बुधवार की सुबह 8 बजे से ही मुख्यमंत्री योगी आदित्यनाथ के आवास पर मंत्रियों का आना शुरू हो गया। एक-एक कर शपथ लेने वाले मंत्री मुख्यमंत्री से मिलने पहुंचे। पांच कालीदास मार्ग स्थित सीएम आवास पर उनका…
(PTI) Rajasthan Energy Minister B D Kalla on Tuesday said the government would bring a new renewable energy policy in the state. Speaking at a seminar on ‘exploring renewable energypotential in the state of Rajasthan’ on the 75th birth anniversary of former prime minister Rajiv Gandhi, Kalla asked the department officials to conduct more research in the domain. He also called upon the industrialists to invest in generating renewable energy. “The government is bringing a new policy to harness solar, wind and biomass energy to make Rajasthan a leading state in renewable energy sector,” Kalla said. He said it was Rajiv Gandhi’s vision to protect environment and generate electricity…