Vikram Akula has served a legal notice to SKS Microfinance, the company he founded in 1997 and in which he served as executive chairman till November. The notice seeks a refund of the money paid towards exercising 906,734 stock options, people familiar with the development said, requesting anonymity. Akula is believed to have paid Rs 4 crore towards the exercise of these shares.

Vikram Akula slaps legal notice on SKS Microfin

Business Standard

The Nuclear Power Corporation (NPC) has stepped up its plan to reachout to villagers in the vicinity of the upcoming Kudankulam nuclear power project in Tamil Nadu, in a bid to remove their misunderstandings and explain to them the safety features of the proposed 2,000-Mw plant.

NPC steps up public reachout programme on safety

The European Union will offer more concessions that India in the proposed free trade agreement.

EU will offer more than India in trade deal: Envoy

State-run National Bank for Agriculture &amp; Rural Development (Nabard) has justified its restructuring and repositioning exercise, based on the recommendations of the Boston Consulting Group.

Repositioning will improve operations: Nabard

Israel on Thursday said it was keen to further strengthen its diplomatic and trade relations with India.

Israel welcomes Indian investments in natural gas

Francisco J S&aacute;nchez, US Under Secretary of Commerce for International Trade, on Thursday downplayed the issue of H-1B visa denial to Indian companies.

US downplays visa denial issue

A sustained revolt by the all-powerful builders&rsquo; lobby &ldquo;heavily hampered&rdquo; the prospects of the Congress and the Nationalist Congress Party (NCP) in the just-concluded Mumbai civic body elections, according the alliance ruling Maharashtra.

Realtors' revolt hits Cong, NCP

The Central Electricity Regulatory Commission (CERC) has proposed capital cost of Rs 5.75 crore per Mw for wind energy projects.

CERC unveils green energy tariff guidelines

A fall in the gas production at Reliance Industries&rsquo; KG-D6 wells in the Bay of Bengal at 34.5 million metric standard cubic meter per day (mmscmd) has led to a negative growth rate in the country&rsquo;s gas-based power generation &mdash; of 13.92 per cent in January and of 4.72 per cent during April 2011-January 2012, according to the Central Electricity Authority (CEA).

Fall in KG-D6 gas supply choked power output in Jan

The blame game has begun in the Congress and the Nationalist Congress Party (NCP) after being defeated by the Shiv Sena-BJP-RPI combine in the BrihanMumbai Municipal Corporation elections. The Congress and the NCP were partners in the elections to the country&rsquo;s richest civic body.

Congress, NCP engage in blame game after loss in BMC polls

The winning alliance of the Shiv Sena, Bharatiya Janata Party (BJP) and Republican Party of India (RPI), which has trounced the Congress-Nationalist Congress Party (NCP) alliance, has a daunting task at hand &mdash; fulfilling the promises it made in its manifesto ahead of the February 16 elections to the BrihanMumbai Municipal Corporation (BMC).

After thumping win in Mumbai civic body polls, pricey promises to fulfil

The Shiv Sena &mdash; after successive defeats in assembly and parliamentary elections since 1999 &mdash; regained ground in its home turf of Mumbai as it emerged the leader in the elections to the 227-seat BrihanMumbai Municipal Corporation.

Sena regains lost ground, MNS betters show

With polling for the 227-member BrihanMumbai Municipal Corporation ending on Thursday, the major issue being discussed within the political parties is how to manage the finances of India&rsquo;s richest civic body.

A crown of thorns awaits winners of BMC polls

Power Finance Corporation (PFC) and Rural Electrification Corporation (REC), the two central government-owned funding agencies in the sector, have both issued stringent guidelines for short-term rupee loans to distribution utilities.

Loan norms for discoms tightened

The question being hotly discussed within Maharashtra Congress is if chief minister Prithviraj Chavan will he lose his job after the party&rsquo;s humiliating defeat in the BrihanMumbai Municipal Corporation elections.

Image factor may keep Chavan in CM chair

The ministry of new and renewable energy has proposed 20 plants to manufacture bio CNG produced from biogas-based on press mud. These projects, whose production capacity range between 500 cubic meter per day and 10,000 cubic meter day and above, entail an investment of Rs 350 crore. At present, two such plants are in operational &mdash; in Maharashtra (500 cubic meter per day capacity) and Punjab (1,000 cubic meter per day capacity). However, a project with bio gas production of 10,000 cubic meter per day is being developed by Spectrum Renewable Energy and Warana Sugar Ltd in the sugarcane rich Kolhapur district of Maharashtra. The project entails an investment of Rs 32 crore and would be commissioned in April.

MNRE promotes 20 bio CNG projects

The differences between the Congress and the Opposition Shiv Sena in Maharashtra on the development of the Jaitapur nuclear power project have escalated, with the ruling party urging the Centre to probe the funding and motives of the NGOs and political organisations protesting against the Nuclear Power Corporation&rsquo;s upcoming 9,900-Mw plant in the state. The trigger: Prime Minister Manmohan Singh&rsquo;s statement last week that American NGOs are fuelling protests at Kudankulam nuclear project site.

Probe funding of NGOs: Congress

The Supreme Court order asking the government to implement the inter-linking of rivers project is expected to change the water situation. Former minister Suresh Prabhu, who headed the task force on this project during the NDA rule, explains the necessity of the project in an interview with Sanjay Jog.

Inter-linking of rivers not an answer to all issues: Suresh Prabhu

Infosys is close to signing an agreement with the state-run Maharashtra Airport Develop-ment Corporation (MADC) to set up an IT campus at an investment of Rs 460 crore at the Nagpur SEZ. The proposed centre will be Infosys&rsquo; third facility in Maharashtra after two campuses at Hinjewadi industrial estate near Pune. Infosys plans to complete the project in three phases and it would enjoy SEZ benefits.

Infosys close to Nagpur campus agreement

Madhya Pradesh government's move to impose 5% VAT on electricity produc-tion and distribution has evoked a mixed reactions. The government proposes to mobilise Rs 100 crore during 2012-13. Madhya Pradesh energy department official, who did not want to be identified, told Business Standard &quot;It is a complicated issue. There will be clarity only after the notification is issued. As of now we at the department are not aware whether 5% VAT is on private generators or it will also apply to state-run companies. Besides, whether the trading will be taxed or not.

MP's move of 5% VAT on power 

Mumbai electricity consumers may have uniform tariff. Maharashtra Electricity Regulatory Commission (MERC), which had instituted a study through Pricewater-houseCoopers (PwC), has forwarded it to the state government to take an appropriate move in this regard. Currently, three power suppliers -BEST (BrihanMum-bai Electric Supply &amp; Trans-port), Tata Power Company and Reliance Infrastructure have different tariffs and they cater a total of 4.2 million customers in the city.

Sanjay Jog

Sanjay Jog

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