Kolkata: International Coal Ventures Ltd(ICVL), a consortium of leading steel and mining PSUs, has shortlisted four to five coking coal assets abroad for acquisition and could strike deals soon.
"At least four to five good assets have been shortlisted. Countries are Australia, US and Mozambique," SAIL chairman CS Verma, who also heads ICVL, said in Kolkata on Saturday.
Asked whether any of them would mature this year, Verma said: "There is a very thin line of difference between things getting matured or things not getting matured. Because we have to see the time table, we have to change our diligence from legal angles so all these aspects are being looked into.
"I am quite hopefull something good should happen," he said....
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06:01 AM, Jun 09, 2013
Special Investigations website Cobrapost has revealed that 23 banks and insurance companies have been engaged in money laundering. Among the 23 banks involved are mostly PSU banks including some big names like the State Bank of India, Bank of Baroda, Punjab National Bank, Canara Bank, IDBI, Oriental Bank and Dena Bank. Aniruddha Bahal, editor-in-chief, Cobrapost.com, joined IBNLive readers for an interaction on the matter. Q. Hats off to you and...
06:39 PM, May 06, 2013
Patna: Bihar Deputy Chief Minister Sushil Kumar Modi has urged the Centre to reconsider amendment in Income Tax Act to disallow levies imposed by state governments on PSUs for imposition and computation of income tax. "The working of the proposed amendment is such that it would give wide discretionary powers in this regard," Modi, who is also state's Finance minister, said in his letter to Union Finance Minister P Chidambaram....
12:40 AM, Apr 28, 2013
The Comptroller and Auditor General (CAG) has said government-owned firms in Gujarat granted "undue benefit" to big industrial houses, which resulted in revenue losses worth crores of rupees to the state exchequer. The CAG report, for the year ended March 31, 2012, was tabled on Tuesday in the Gujarat State Assembly. ...
11:04 PM, Apr 02, 2013
A worker of the Students Federation of India (SFI) died on Tuesday of injuries sustained during clashes with police. ...
09:21 PM, Apr 02, 2013
In this season of scams, a new one has been unearthed, this time in West Bengal and a senior state government leader is said to be allegedly involved. ...
07:50 PM, Apr 02, 2013
In this season of scams, a new one has been unearthed, this time in West Bengal and a senior state government leader is said to be allegedly involved. According to a CBI probe, Rs 200 crore, meant for fixed deposits, were siphoned off from four state government departments into hundreds of fictitious accounts. The CBI probe points to the involvement of a senior Trinamool Congress politician. ...
06:51 PM, Apr 02, 2013
The Finance Ministry has asked public sector banks to limit the amount of loan write-offs and sought details of recoveries made by them in the six years ending 2011-12 with an aim to improve the finances of PSU lenders. ...
12:10 PM, Mar 31, 2013
Wishtel has launched a convertible tablet laptop named "IRA Capsule". It has a 10.1-inch LED multi-touch capacitive touchscreen with a resolution of 1024x786 pixels, and runs Android 4.1 Jelly Bean. ...
02:09 PM, Mar 28, 2013
Amid moderation in economic growth, Finance Minister P Chidambaram is likely to prod banks to step up lending at a meeting with heads of public sector banks on March 18. ...
12:06 PM, Mar 10, 2013
Finance Minister P Chidambaram on Monday said the government was hopeful about raising Rs 40,000 crore from stake sale in public sector undertakings (PSUs) in the financial year beginning April 1, 2013. ...
02:27 AM, Mar 05, 2013
Aiming to restart the growth engine, Finance Minister P Chidambaram on Monday said he will monitor every quarter the investment plans of public and private sector entities that are sitting on huge cash piles. "Each PSU is required to fill up that proforma, tell us what their capex targets are next year. We will monitor them closely beginning from April, 2013. Every quarter I will monitor what they are investing,"...
11:32 PM, Mar 04, 2013
New Delhi: India will speed up the sale of stakes in state companies to revive the stock market and will push ahead with reforms aimed at spurring an investment recovery in the flagging economy, Prime Minister Manmohan Singh said on Saturday. Selling equity in large public industries is a central plank of the government's plan to bring down a wide fiscal deficit, a major weakness in Asia's third largest economy....
11:15 PM, Dec 15, 2012
New Delhi: Faced with difficult government finances, Prime Minister Manmohan Singh on Tuesday asked cash-rich 25 central PSUs to invest their surplus fund of Rs 2.5 lakh crore to reignite economic growth. In a meeting convened by the Prime Minister and also attended by Finance Minister P Chidambaram, the top PSUs were given a stern message that they either invest their huge surplus or pay it back as special dividend...
09:45 PM, Oct 23, 2012
New Delhi: Amid the government's push to reforms, Prime Minister Manmohan Singh will meet the chiefs of PSUs tomorrow to discuss ways to push economic growth through enhanced investments, besides providing them greater autonomy and empowerment. The meeting, to be attended by 25 heads of companies, mostly Maharatnas and Navratnas, will be the first interaction of the Prime Minister collectively with captains of public sector undertakings (PSUs) whose turnover has...
09:59 AM, Oct 23, 2012
New Delhi: State-owned oil companies on Saturday said there is no ban on issuing new subsidised cooking gas (LPG) connections which will be issued after completion of multiple connection checks. It is confirmed that new connections are being released after receipt of completed Know Your Customer (KYC) forms and multiple connection check, the companies said in a statement. "Those who are desirous of availing new LPG connections are also requested...
02:38 AM, Oct 14, 2012
New Delhi: An Inter-Ministerial Group on coal will be deciding the fate of 58 coal blocks on Wednesday. The Inter-Ministerial Group on Tuesday started reviewing development of blocks allotted to public sector firms and examined 13 cases. "The public sector firms like Maharashtra State Mining Corp, Tamil Nadu Electricity Board and Orissa Mining Corp presented the status of their mines before the IMG today," an official in the Coal Ministry...
11:44 AM, Oct 10, 2012
Washington: An unmanned cargo capsule blasted off on Sunday night to launch the first commercial delivery to the International Space Station, marking a major shift in how the US sends supplies and gear to the orbiting lab. Perched atop a Falcon 9 rocket, the reusable Dragon capsule, built by the private spaceflight company SpaceX, lifted off from the Cape Canaveral air force station in Florida at 8.35 pm, NASA TV...
11:53 AM, Oct 08, 2012
New Delhi: Defence Minister AK Antony on Friday called for reducing India's over-dependence on defence imports and bolstering research and development capabilities. Speaking to officials of Ordnance Factory Board (OFB) and defence public sector undertakings (DPSUs), Antony asked them to make sincere and sustained efforts to reduce the dependence on imports to the maximum extent possible. "While in the era of globalisation, it is not possible to completely do away...
12:58 PM, Oct 06, 2012
New Delhi: The government is working on a proposal to relax guidelines for granting the coveted Navratna status to public sector undertakings (PSUs). This is aimed at enhancing the valuation of such companies and help the government obtain better price at the time of any stake sale. "The Department of Public Enterprises (DPE) has formed a panel to relook into the current parameters which a PSU needs to fulfill to...
05:43 PM, Sep 24, 2012
