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Monday, August 25, 2014

Supreme Court says coal block allocations post 1993 illegal
Supreme Court has pronounced the terms under which coal blocks were allocated post 1993 as illegal but stopped short of deallocating the blocks. The conseqence of illegality will be determined on September 1, 2014. The apex court observed that the issue of de-allocation will need further hearing, but barred UMPPs from exploiting captive mines.

GAIL to restart work on Rs 10,000-cr Energy Highway
GAIL India said work was set to start on the 2,050-km Jagdishpur-Phulpur-Haldia natural gas pipeline, which will serve as the Energy Highway for West Bengal, Bihar, Jharkhand and Uttar Pradesh.

Adani Group plans 2,500 MW rejected coal based power plant
Adani Group is close to signing up a Memorandum of Understanding (MoU) with the Odisha government to set up 2,500 MW of rejected coal based power plant in Angul district. The proposed investment is Rs 12,500 crore, as divulged by the company's senior management.

Ranbaxy faces Rs 242 crore US fine
Shares of Ranbaxy Laboratories was up 2% on reports that company may have to pay Rs 242 crore fine, imposed by the State of Texas.

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