Round 2 for Surface Coal, Lignite Gasification Projects concludes with 2 Applications from NTPC (See 'Corp Brief') DRI recovers two elephant tusks weighing 3.7 kg (See 'Corp Brief') Govt holds Round Table with CPSEs on Enhancing Procurement from SC/ST MSEs (See 'Corp Brief') SARFAESI - Authority must verify statutory declarations & supporting material & on being satisfied that prescribed requirements are fulfilled, must pass appropriate orders for taking possession of secured asset - cannot adjudicate disputed questions falling beyond limited scope of Section 14: HC (See 'Legal Desk') Special Campaign: Waste Disposal generates revenue of Rs 15.74 Crores (See 'Corp Brief') IBC - Provisions of IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 contravened where RP unilaterally withdraws higher monthly fee without prior approval of CoC: IBBI (See 'Legal Desk') Delhi Railway Area handles 5 Lakh Passengers Daily - Footfall rises to 8 Lakh during festivals (See 'Corp Brief') IBC- SC exercises power under Article 142 - Borrower firm to pay further sum of 125 crores rupees as full & final settlement of all claims concerning assigned debt: SC LB (See 'Legal Desk') Legislative Department initiates Interaction Series on Personal Effectiveness in Leadership (See 'Corp Brief') National Exercise strengthens India's Preparedness for Foot-and-Mouth Disease (See 'Corp Brief') IBC - Once existence of financial debt & a default is clearly established through unimpeachable evidence & records from information utility, admission of application u/s 7 is mandatory: NCLAT (See 'Legal Desk') NHAI Guidelines to standardise Design and Infrastructure for Multi-Lane Free Flow Tolling (See 'Corp Brief') A & C - Clause 26 of Special Conditions of Contract operates as express contractual bar within meaning of Section 31(7)(a) of the Act, thereby prohibiting arbitral tribunal from awarding pre-reference & pendente lite interest: SC (See 'Legal Desk') Centre reviews progress of AB PM-JAY and ABDM with States (See 'Corp Brief') A&C - Petitioner's deliberate omission of material bank account & failure to disclose operational details, even upon specific judicial inquiry, constitutes incomplete compliance with Rule 41(2) - exercise of discretion under Rule 41(3) to issue arrest warrants is justified: HC (See 'Legal Desk') Reddy calls for expediting Mineral Exploration and Strengthening Centre-State Coordination (See 'Corp Brief') MY Bharat's 'Viksit Bharat Yuva Samvad: Know Your Vote' Campaign reaches Over 1 Lakh Youth (See 'Corp Brief') PBPT - Intention behind benami arrangement may be inferred from surrounding circumstances & material on record, even where such intention is not established through direct evidence: Tribunal (See 'Legal Desk') Ministry of Mines launches 9th Tranche of Critical Mineral Block Auction (See 'Corp Brief') Union Health Minister reviews progress of AIIMS Awantipora; directs expeditious completion (See 'Corp Brief') Competition Act - Relief being of the nature of final relief cannot be sought at a stage when the matter is being investigated by the DG: CCI (See 'Legal Desk') BRE Summit & Expo 2026 reinforces India's Position as Major Global Force in Renewable Energy: Joshi (See 'Corp Brief') A&C - Judicial intervention in arbitral proceedings is warranted only in exceptional cases, such as where party is left remediless under the statute or where clear bad faith is established: HC (See 'Legal Desk') An unsuccessful 'success fee' litigation (See CORP EINSICHT)

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R&D included as non-financial parameter in MoUs for CPSEs: MoS

Published: Jul 09, 2019

By TIOLCORPLAWS News Service

NEW DELHI, JULY 09, 2019: THE Union Minister for Heavy Industries & Public Enterprises, Mr Arvind Ganpat Sawant, today in Parliament stated that the Government has implemented Maharatna, Navratna and Miniratna scheme for Central Public Sector Enterprises (CPSEs) under which the Boards of these CPSEs have been delegated powers, to enter technology joint ventures or strategic alliances and to obtain by purchase or other arrangement technology and know-how as per Government guidelines. 

Further, R&D, Innovation, Technology up-gradation has been included as a non-financial parameter under the system of Memorandum of Understanding for CPSEs (except for CPSEs in the financial sector) with a weight of up to 10% in order to provide focus on efforts of management of CPSEs in this regard.

All CPSEs function under the administrative jurisdiction of Ministry/Departments concerned. The Board of Directors of a CPSE is responsible for regular review of performance of the CPSE concerned and to decide on steps to be taken for enhancing output/productivity of the company as per its operational needs and business plans with the approval of the competent authority. The administrative Ministry/Department concerned also undertakes periodic review of performance of CPSEs under their respective jurisdiction to facilitate policy interventions required for enhancing output/productivity of CPSE(s) concerned.

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