Financially troubled Haldia Petrochemicals Ltd (HPL) is pinning hopes on West Bengal government's disinvestment move in the company for fresh infusion of funds."We are hoping that the entity which would buy out government's shares in HPL will make a turnaround plan for the company with fresh infusion of capital," a senior HPL official told PTI.At the end of March 31, 2013, the company's networth had been eroded by more than 50 per cent making it potentially sick for a reference to BIFR (Board for Industrial and Financial Reconstruction), he said.Asked about the disinvestment process, the official said that it was "very much on".The West Bengal government had appointed consultancy firm Deloitte for valuation of the shares which would then be auctioned.The state industry minister Partha Chatterjee had said that the other promoter Purnendu Chatterjee of TCG would be given the first right of refusal, else the shares would then be offered to the highest bidder.The company had also approache

HPL pins hopes on disinvestment by govt

Press Trust of India

Many women members of SHG had lost a major portion of their savings by investing in the chit fund companies

SHG women hit by Saradha scam

Business Standard

In a follow up to the Supreme Court order empowering the village committees (palli sabha) to decide the fate of bauxite mining project in Niyamgiri hills, the Union ministry of tribal affairs (MoTA) has asked the Odisha government to take necessary steps to create awareness about holding of palli sabhas

Centre asks Odisha to publicise Supreme Court order on Niyamagiri

BS Reporter

The decks have been cleared for renewal of lapsed MoUs (memorandum of understanding) of at least 11 steel projects in the state. The state task force on steel has recommended extension of MoUs for a period of two years.The list of projects to be benefitted include Tata Steel's six million tonne steel plant at Kalinga Nagar. The rest 10 are small and medium scale projects."Based on milestones achieved, the steel task force has recommended renewal of MoUs of 11 steel players. This is out of a list of 15 steel projects whose field verification has been completed by Ipicol. The steel & mines department has readied the draft MoUs of the 11 steel companies. Ipicol will take the views of other concerned departments on the MoU," said steel & mines secretary Rajesh Verma.

MoUs of 11 steel projects to be renewed

The road-cum-beach project, being funded by the ministry and 30-km in length, will be developed with land scrapings, parks, view towers, lightings to attract tourists

Chiranjeevi lays stone for Vizag beach project

It plans to increase the branch network to 1,500 and expand the ATM network also to 1,500 by March 2014

Vijaya Bank targets 25.3% growth in business in FY14

Century Real Estate Holdings is understood to be closing in on a pact with Bharti Walmart to build its first cash and carry store in Bangalore

Century Real Estate close to clinching deal with Walmart

Polls to the 10 Assembly constituencies in Mysore district went off peacefully today with moderate to heavy turnout of voters

Mysore sees turnout of around 65%

says Considering the magnitude of the administration of the trust, a committee of deserving and competent persons is required to be constituted, which would administer the affairs of the trust efficiently and sincerely

HC asks Maha to set up new panel for Shirdi trust

Authorities of a church located at Old Goa are miffed over Archaeological Survey of India (ASI) allegedly removing paintings without informing them while carrying out restoration work in the church premises

Church unhappy with ASI removing paintings without permission

With a view to offering more facilities to private investors in tourism sector state government is mulling over according "Industry" status to tourism sector

MP govt mulls 'industry' status for tourism sector

Global biosimilars market likely to touch $10 billion by 2015, India's share is 3%

Gujarat pharma cos tapping  opportunity in biosimilars

Says Sarabjit is a national martyr as he had suffered endless agonies in the Pakistani jail for being an Indian

Obliged to help Sarabjit's family: Punjab CM

Amid the removal of two senior IAS officers from key posts and the recent Congress drubbing in the civic polls, the Uttarakhand chief minister is apparently trying to refurbish his image by declaring a war on corruption

Wary Bahuguna tries to refurbish his shaky image

Insurance companies will have to pay out more to road accident victims as the Supreme Court has added new criteria in computing compensation for death and injury

SC tweaks compensation package

Sarabjit Singh, an Indian national convicted by the Pakistan judicial system for instigating bomb blasts in Lahore killing multiple innocent Pakistani civilians, died in a Pakistani jail recently

Comfort of opinion sans discomfort of thought

Once the duty is decided on merit, the question of uniformity cannot be relevant

No discrimination if rate is correct

Zero-duty EPCG scheme can entice more domestic tariff area units to take up export obligation but it removes an important consideration for setting up EOU or SEZ units

Revamped EPCG scheme may take sheen off SEZs

During WWII 2500 men and women associated with this company joined the war efforts

The Strategist Quiz (#303)

Answers to last week's quiz (#303)

According to recent reports, the no-fail policy for students up to Class VIII has resulted in a sharp decline in the reading and math standards in schools. A panel, headed by Congress leader Oscar Fernandes, has asked the human resource development ministry to reconsider the policy. In an interview with Avantika Bhuyan, Anil Sadgopal, member, presidium, All India Forum for Right to Education, and former dean-faculty of education (Delhi University), talks about the flaws in the concept of the policyDo you feel the no-fail policy is to blame for the falling standards?It is like barking up the wrong tree. The flaws are built into the so-called Right to Education Act, 2009 (RTE Act) itself. Few realise that the schedule of the Act prescribes inferior and discriminatory infrastructural and teacher-related norms and standards. When the Act is fully implemented, two-thirds of the primary schools will be denied a separate teacher/ classroom for each class. More than three-fourth of the primary

Right to Education Act has failed the no-fail policy: Anil Sadgopal

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