New Delhi: Lingering row between CIL and power producers such as NTPC is casting a shadow over 10 per cent divestment plans in the coal major as its parent ministry has reservations about stake sale till issues, like Rs 9,000 crore dues owed by electricity utilities, are resolved.
"Coal Ministry in a letter to the Department of Disinvestment (DoD) has said that going ahead with the stake sale process in Coal India (CIL) is not advisable till power utilities including NTPC clear its dues and labour issues are resolved," a Coal Ministry official told reporters.
The letter was sent to the DoD which had sought Coal Ministry's views on further 10 per cent divestment of government's share in the world's largest coal miner, he said. An Inter-ministerial Group (IMG), earlier this month approved 10 per cent equity sale in the coal PSU which is expected to fetch over Rs 17,000 crore to the government. The government, at present holds 90 per cent stake in it.
Power utilities, including NTPC and DVC, owe a huge amount of about Rs 9,000 crore to CIL and the Coal Ministry has already asked Power Ministry to ensure steps for payment of dues, including about Rs 3,000 crore by NTPC, to CIL....
more
12:11 PM, May 19, 2013
The Cabinet Committee on Investment (CCI) on Wednesday approved the setting up of the 1,980 MW North Karanpura Super Thermal Power Plant in Jharkhand by the National Thermal Power Corporation (NTPC). ...
04:53 AM, Feb 21, 2013
The government on Thursday said it is satisfied with the response to National Thermal Power Corporation (NTPC) share sale and expects to garner more than Rs 11,500 crore from the offer, the biggest disinvestment mop up so far this fiscal. ...
05:37 PM, Feb 07, 2013
Shares of National Thermal Power Corporation (NTPC) slid as much as two per cent on the BSE in the early trade on Thursday as the government's 9.5 per cent stake sale of country's largest power producer commenced on the bourses. ...
12:30 PM, Feb 07, 2013
The government will sell 9.5 per cent stake in country's largest power producer NTPC on Thursday at a likely price of Rs 145 per share, nearly seven per cent discount to the current market price. ...
08:22 AM, Feb 07, 2013
The government expects to raise around Rs 12000 crore by selling a 9.5 per cent stake in state power utility NTPC Ltd in a share auction on February 7, Disinvestment Secretary Ravi Mathur said. ...
12:40 AM, Feb 06, 2013
India's plan to raise about $2 billion selling a stake in power producer NTPC Ltd will likely take place on February 7, three sources with direct knowledge of the situation said on Friday. ...
12:24 AM, Jan 26, 2013
State-run power producer NTPC on Monday reported nearly 22 per cent jump in net profit at Rs 2,596.76 crore in the third quarter ended December, 2012. ...
03:36 PM, Jan 21, 2013
India has shortlisted six banks, including Goldman Sachs, Citigroup and Morgan Stanley, for a selldown of state shares worth $2.3 billion in power producer NTPC Ltd, three sources with direct knowledge of the sale said. ...
02:56 AM, Jan 07, 2013
India is looking at new ways to attract investors to sales of shares in state-run industries and large offerings in Oil India and power company NTPC are set to come in the next few weeks, a top finance ministry official said. ...
01:06 AM, Dec 18, 2012
The government on Tuesday initiated the process of disinvestment in NTPC by inviting bids from merchant bankers for 9.5 per cent stake sale in the power major, which may fetch the exchequer over Rs 12,000 crore. ...
01:27 PM, Nov 27, 2012
New Delhi: In a major boost for NTPC, the government on Thursday decided to re-allocate three coal blocks, that could fire 8,500 MW electricity generation capacity, to the country's largest power producer. The decision to re-allocate the coal mines - Chatti-Bariatu, Kerandari and Chatti-Bariatu (South) - comes at a time when the state-run NTPC is grappling with fuel shortages that are hurting its electricity generation. The Cabinet on Thursday decided...
09:47 PM, Nov 22, 2012
The husband of Indian dentist Savita Halappanavar, who died after being denied abortion, questions the credibility of the Irish government probe. ...
09:12 PM, Nov 22, 2012
New Delhi: The government on Thursday approved 9.5 per cent stake sale in state-run power producer NTPC, hoping to garner around Rs 13,000 crore. "The Cabinet Committee on Economic Affairs has approved 9.5 per cent paid-up equity capital ( about 78.33 crore shares) in NTPC out of government's shareholding of 84.50 per cent, a proposal by Department of Disinvestment, Ministry of Finance," sources said. At the current market price, the...
07:52 PM, Nov 22, 2012
New Delhi: The head of India's largest power producer blamed the government for chronic fuel shortages that have exacerbated the country's energy crisis and put off steps to increase power generation as he repeated a warning NTPC would fall far short of its own target to up capacity. Arup Roy Choudhury, chairman of state-run NTPC, said a climate of fear following a spate of corruption scandals had frozen officials into...
01:59 AM, Jun 08, 2012
New Delhi: Tata Steel has topped a list of India's 50 most admired companies, while four other companies from the steel-to-software conglomerate Tata group have also made to the first such rankings. However, the first such list for India, compiled by business magazine Fortune and global management consultancy Hay Group, has nearly half of the total 50 positions being occupied by the Indian units of the foreign companies. Tata Steel...
02:46 PM, Mar 06, 2012
New Delhi: Coal Minister Sriprakash Jaiswal has said that the coal crisis that threatened a power blackout in the country has been averted and things will get to normal in the next four to five days. It was blamed on blockade in Telangana, rains and a two-day strike in Coal India for the crisis. But documents with CNN-IBN show that Telangana and flooding were not the real reasons for the...
07:03 PM, Oct 18, 2011
New Delhi: India's metros are running short of power and what is worse is that the situation could get worse. CNN-IBN has learned that five National Thermal Power Corporation plants have coal for just a day or maximum two. NTPC's 13-day coal reserves of 5.3 metric tonnes have depleted and supply from Coal India for power plants is down to just 20 per cent. For now the Cabinet has allowed...
07:32 AM, Oct 14, 2011
Five of the NTPCs 22 plants nationwide have coal supply for just two days. ...
09:06 PM, Oct 13, 2011
NTPC Kahalgaon power plant has been shut down because of the earthquake. ...
08:46 PM, Sep 18, 2011
