(LiveMint) The Enforcement Directorate (ED) has traced more than Rs5,000 crore that has been funnelled through layers of shell companies controlled by jeweller Nirav Modi and his uncle Mehul Choksi in the Punjab National Bank (PNB) fraud case, two people directly aware of the matter said. Based on the investigations, ED will likely file charges against Modi and Choksi within a month, the people, including an official at the investigative agency, said, requesting anonymity. The agency is probing alleged money laundering in the Rs12,636 crore PNB scam, involving billionaire diamond merchant Modi and his uncle Mehul Choksi, both of whom fled…
Author: Aruna Sharma
Shri Dharmendra Pradhan, Hon’ble Minister of Petroleum & Natural Gas and Skill Development & Entrepreneurship, today flagged off ONGC’s prolific east coast project of KG-DWN-98/2by spudding its first well #KDG-A. The Minister spudded the well from the drillship Platinum Explorer 35km off the Andhra Pradesh coast in the Bay of Bengal. The Minister was accompanied by Joint Secretary Mr. Amar Nath, Director MoPNG Mr Satyajit Mohanti, ONGC CMD Mr. Shashi Shanker and ONGC Director Offshore Mr. Rajesh Kakkar. The well #KDG-A is one of the 34 wells planned under this mega project. The deepwater well has a target depth of 2346 meters, under a water depth…
(Tribune) Following the assurance of Mandi MP Ramswaroop Sharma, the 11-day stalemate between Rohtang tunnel workers and company officials ended on Friday.As many as 700 construction workers had stalled work, accusing the company of violationg the labour rights. They alleged that they were being forced to work overtime, that too on a fixed amount. Hygiene eluded the place where they lived, they lamented.Since the first day of the strike, the Border Roads Organisation (BRO), the nodal agency of the Rohtang tunnel project, and construction company AFCONS officials have been pacifying the protesting workers, but the latter did not relent. The…
(Tribune) Uttarakhand Cabinet on Friday gave its nod for introducing amendments in the excise policy that included increasing the license fee and reducing the turnover limit for departmental stores required for selling foreign liquor in the state.Briefing media persons on Friday, Minister for Urban Development and government spokesperson Madan Kaushik said that the amendments were proposed by the Department of Excise in the existing excise policy and the Cabinet gave its nod. “The department felt that the turnover limit fixed at Rs 5 crore for departmental stores in order to sell foreign liquor along with groceries and other utility articles…
(PTI) Finance Minister Arun Jaitley was today admitted to AIIMS and is scheduled to undergo a kidney transplant operation tomorrow, sources said. Jaitley, 65, has been suffering from a kidney ailment and skipped office since Monday. He has not even taken oath of office after being re-elected to the Rajya Sabha. Sources said the minister, who was confined to a ‘controlled environment’ at home, was shifted to the All India Institute of Medical Sciences (AIIMS) this evening. A kidney transplant operation is scheduled for tomorrow, they said, adding all formalities for a donor kidney have been completed. The minister, who cancelled his scheduled…
(LiveMint) Bharatiya Janata Party (BJP) president Amit Shah on Friday said he “sincerely wishes that the Shiv Sena stays with the BJP” for the next elections. Shah was addressing a press conference in Mumbai after the BJP’s 38th foundation day convention. The party president also ruled out simultaneous elections to the Lok Sabha and Maharashtra assembly. When asked about criticism by some allies including the Shiv Sena and former ally Telugu Desam Party (TDP) that the BJP did not treat its allies well, Shah said the Shiv Sena was still a part of the BJP-led government in Maharashtra. “Only TDP has left.…
(ET) In the latest development in a 1998 poaching case that has put Salman Khan behind bars, the Jodhpur District and Sessions Court Judge Ravindra Kumar Joshi, who was expected to pronounce the order on the actor’s bail plea, has been transferred to Sirohi. Judge Dev Kumar Khatri, who gave the verdict on the case, sentencing Khan to 5 years in jail, and acquitting his ‘Hum Saath Saath Hain’ co-stars, has also been transferred. Judges in Rajasthan are usually transferred between April 15 and 30 every year. This move is part of the annual reshuffle by the Rajasthan High Court. 87…
(FE) Electricity tariffs discovered in the latest reverse auctions conducted by the state-run Solar Energy Corporation of India (SECI) for 2,000 MW of wind power have brought relief to the industry. The lowest price quoted in the bidding which concluded late Thursday was Rs 2.51/unit, 16% higher than the previous low of Rs 2.44/unit discovered under any central government scheme. The latest bidding marks a reversal of the trend where tariffs discovered in every SECI auction was lower than the previous one. Srijan Energy Systems, Sprng Energy, BLP Energy, Betam Wind, Inox Wind and Adani Green Energy bid for 250…
(FE) The Reserve Bank of India (RBI) on Friday raised the debt investment limits for foreign portfolio investors (FPIs) across all segments, including central government securities (G-secs), allowing cumulative increase of over Rs 1 lakh crore through FY19. Though the hike in limit for G-secs — 0.5% each year to 5.5% of the outstanding stock in FY19 and 6% of the stock in FY20 — was a bit lower than market expectations, analysts felt the move would help bring down the yields further at least in the short term. The RBI’s decision could also ease pressure on local banks to…
(PTI) State-run HPCL today received the environment clearance for setting up of a new LPG plant with bottling and storage facilities in East Champaran, Bihar that will entail an investment of Rs 136.4 crore. This will be the third LPG plant in the state. Currently, Hindustan Petroleum Corporation Ltd (HPCL) has only two LPG plants in Bihar at Patna and Purnia with a bottling capacity of 50,000 cylinders per day. As per the proposal, the HPCL wants to construct mounded storage vessels with a capacity of 1,050 tonnes and bottling capacity of 120 tonnes per annum in an area of 30 acres in Panapur and Kubeya villages in East Champaran…