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ArcelorMittal is about to give India its biggest IBC success

ArcelorMittal has initiated payment for acquisition of debt-ridden Essar Steel for Rs 42,000 crore, sources said on Friday.

Ministry of Defence

Dec 14, 2019, 03.45 PM IST

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MINISTRY OF DEFENCE

TV Somanathan new expenditure secretary in finance ministry

The government made over a dozen changes at the secretary and additional secretary levels, with the Union Budget two months away. This is the second major bureaucratic reshuffle since the BJP government came back to power in May. The secretaries of 12 departments were rejigged in July.

Corporate affairs ministry reviews IL&FS resolution progress

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  • The Indian Army is planning to institutionalise the key war committee that was created during the Doklam standoff between India and China in 2017. ​​This setup is established only during a war like situation, otherwise all these heads work under different verticals. ​​The defence ministry has approved the proposal.

    Meity has warned that unless govt restores sops for phone exports, the $3 bn industry would collapse.

    The Appointments Committee of the Cabinet (ACC) has approved the appointment of Swarup, a 1986 batch Indian Foreign Service (IFS) officer, to the post, it said.

    All other blocks will be awarded to the successful bidders in the auctions.

    Oyo's campaign has been conceptualised and conceived in-house under the charge of Mayur Hola, creative head, India, and SE Asia, for the company. The three films shot by Chrome Pictures show different use-case scenarios.

    Defence Minister Rajnath Singh said self-reliance in defence production to meet the requirement of the armed forces was imperative from both strategic and economic perspectives. "Several steps have been taken to promote defence exports, including reduction in the time taken for issuing export authorisations," he said during the Question Hour.

    After Jet Airways went bust in mid-April, government temporarily allotted the hundreds of slots owned by Jet to other carriers, with an apparent bid to contain soaring airfares in the peak holiday season. The slots were first allotted to other airlines for three months, which was extended to December-end. The lack of clarity on slots has created confusion.

    Main reasons of invocation of arbitration are compensation for delay in handing over of land, damages due to Change in Scope, loss incurred on account of extended stay in the project, delay in distribution of grant/annuity payment, change in law, additional interest paid to lenders, interest on delayed payments, non-achievement of project milestones etc, he said.

    While the ministry had, in September, announced the decision of the IIT Council that it will implement the fee hike, the issue will again be taken up at the next meeting. The development comes against the backdrop of protests by Jawaharlal Nehru University (JNU) students against a recent fee hike. HRD Ministry officials, however, did not comment on the reasons behind the decision being put on hold.

    In the allotment process, applications were received in the case of six out of 15 coal mines, the coal ministry said in a release. On the basis of evaluation of applications received in the allotment process, six mines namely Durgapur II Taraimar/Durgapur II Sariya, Mandakini, Utkal C, Sugia Closed Mine and Tokisud North are under consideration for the allotment, the coal ministry said.

    The Directorate General of Hydrocarbons (DGH) has launched a single window clearance system that connects upstream companies to different arms of the government, allows electronic filing of most applications.

    "Six out seven coal producing subsidiaries of CIL did not formulate a policy as mandated by MoEF&CC (Ministry of Environment, Forest and Climate Change) which stipulated that a well laid down environment policy duly approved by the Board of Directors of the subsidiaries needs to be in place," the report by the Comptroller and Auditor General of India said.

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