(LiveMint) Securities and Exchange Board of India (Sebi) in two orders passed on Friday evening found credit ratings agencies or CRAs lapsing and lacking in conduct when they rated the Non Convertible Debentures or NCDs of Infrastructure Leasing and Financial Services Ltd (IL&FS). In a rare instance the regulator levied a penalty of ₹25 lakh each on three rating agencies ICRA ltd, India Ratings & Research and Care Ratings Ltd for not exercising due-diligence and lapsing on their duties to investors by not taking timely rating actions. Spokesperson of the two rating agencies did not immediately revert to request for comments from…
Author: Aruna Sharma
(PTI) H G Infra Engineering Ltd on Thursday said it has bagged a highway project worth Rs 522 crore in Haryana from the National Highways Authority of India (NHAI). H G Infra has been declared L-1 (lowest) bidder by NHAI for construction of proposed Rewari bypass (NH-11) as feeder route in Rewari district in the state of Haryana…on hybrid annuity mode amounting to Rs 522.02 crore, the company said in a filing to the BSE.
(FE) Finance minister Nirmala Sitharaman is expected to meet the heads of the public sector banks on December 28 to discuss the credit flow to micro, small and medium enterprises (MSMEs) and the status of IBC cases, banking sources told. The government wants to review the progress following various steps taken by it in recent past. In September, Sitharaman asked banks not to declare stressed MSME loans as NPAs till March 2020. This meeting is taking place at a time when banks have been referring unresolved stressed companies to the National Company Law Tribunal (NCLT). Lenders are reeling under pressure to…
(PTI) State-run ONGC has received environment clearance (EC) for carrying out onshore exploration, development and production of oil and gas in 100 locations in non-forest area of Assam, that would entail an investment of Rs 3,500 crore, according to official documents. The Union Environment Ministry has given green clearance to ONGC, the country’s largest oil and gas exploration and production company, after taking into account the recommendations of a green panel. “The EC is however subject to obtaining prior permission from the wildlife angle, including clearance from the Standing Committee of the National Board of Wildlife,” the ministry said in a letter to ONGC. The company…
(ET) With overhang of disputes choking investments in the oil and gas sector, the government has constituted an expert committee for time-bound resolution of exploration and production disputes without having to resort to tardy judicial process. The ‘Committee of External Eminent Persons/Experts’ for dispute resolution will comprise former oil secretary G C Chaturvedi, Oil India Ltd former head Bikash C Bora and Hindalco Industries Ltd Managing Director Satish Pai, according to an official notification. The panel will have a tenure of three years and the resolution will be attempted to be arrived at within 3 months. India’s oil and gas sector…
(AU) धानमंत्री किसान सम्मान निधि योजना के तहत बड़ी संख्या में आधार कार्ड में गड़बड़ी का खुलासा हुआ है। शासन की समीक्षा में सामने आया है कि सूबे के 57,90,664 किसानों के आधार कार्ड योजनांतर्गत गलत फीड हुए हैं।गौतमबुद्धनगर के लिए राहत वाली बात यह है कि आधार करेक्शन के मामले में जिला पूरे प्रदेश में दूसरे स्थान पर है। पहले नंबर पर गाजियाबाद और तीसरे पर हापुड़ है। प्रधानमंत्री किसान सम्मान निधि योजना के अंतर्गत प्रत्येक चार माह में 2000 रुपये (सालाना 6 हजार रुपये) किसानों को मिलते हैं। केंद्र सरकार ने योजना का लाभ लेने के लिए आवेदन…
(AU) राजधानी दिल्ली में आगामी विधानसभा चुनाव को लेकर हलचल तेज हो गई है। इसे लेकर आज चुनाव आयोग की अहम बैठक चल रही है। बैठक में चुनाव आयुक्त समेत तमाम उच्चाधिकारी मौजूद हैं। उम्मीद जताई जा रही है कि जनवरी के पहले या दूसरे हफ्ते में चुनाव की तारीखों का एलान किया जाएगा।
(PTI) Government think-tank Niti Aayog member Ramesh Chand on Wednesday made a case for only two slabs under the goods and service tax regime as against the multiple slabs currently, and said rates should be revised annually if required. The goods and services tax (GST), which replaced almost all the indirect taxes, came into force from July 1, 2017, and the rates on goods and services have been revised several times since then. Currently, there are four GST rate slabs — 5 per cent, 12, per cent, 18 per cent and 28 per cent. Several items fall in exempt category or…
(ET) The government will open up the Indian coal sector with a large offering of over 200 blocks for commercial coal mining in the next five years having a potential to produce at least 400 million tonnes of coal at peak capacity. The government hopes to stop coal imports by power plants by 2024, a senior government official said. The first tranche of coal auctions for commercial sale purposes is likely to begin this financial year with about 40 coal blocks with peak mining capacity in the range of one million tonnes to 50 million tonnes per annum to cater…
(FE) The steel ministry wants state-run units under its supervision, such as SAIL and RINL, and state governments to come up with various enablers such as encroachment-free land and steady supply of raw material to help the industry build 25-30 million tonne (MT) additional steel production capacity through the greenfield route by 2024-25. An estimated Rs 1-1.5 lakh crore investment would be required to create the targeted capacity. India’s current steel capacity of 142 MT is being augmented by 28-30 MT through the brownfield route by 2024-25. The ministry envisages it would be imperative to create additional capacity through the greenfield route to…