HM inaugurates 'Million Minds Tech Park' and 'GREMI City Campus' in Ahmedabad (See 'Corp Brief') Amit Shah inaugurates State-of-the-Art Milk Processing Plant of Madhur Dairy (See 'Corp Brief') Experts Discuss Yoga for Youth and Mental Wellness in Digital Era (See 'Corp Brief') Misc - RBI circular dated June 07, 2019 on 'Prudential Framework for Resolution of Stressed Assets' was policy decision taken by expert body in larger public interest: HC (See 'Legal Desk') GeM continues to support Digital Public Procurement System (See 'Corp Brief') Ministry of Education reviews strategy for mainstreaming Out-of-School children (See 'Corp Brief') Misc - NBFC cannot reposses financed vehicle through coercive means, without adherence to due process of law and in violation of RBI recovery guidelines: HC (See 'Legal Desk') Govt extends timeline for Global Tender for REPM scheme (See 'Corp Brief') Indian Pharmacopoeia Commission organizes Scientific Conclave (See 'Corp Brief') A&C - Later attempt by insurer to artificially split same claim into separate components of admitted and denied liability does not render unpaid component non-arbitrable: HC (See 'Legal Desk') Scindia reviews Key Development Projects during Sikkim Visit (See 'Corp Brief') Union Minister of State for Coal & Mines reviews CMPDIL (See 'Corp Brief') IBC - If transaction was builder-linked contractual arrangement rather than pure financial debt default, Section 7 IBC proceedings cannot be used in parallel with DRT recovery proceedings: SC (See 'Legal Desk') Commerce Minister chairs meet on promoting fisheries exports (See 'Corp Brief') Govt reviews progress of micro Food Processing Enterprises in Leh (See 'Corp Brief') FERA - Foreign judgment is unenforceable in India as it fell within exceptions u/s 13 CPC: SC (See 'Legal Desk') Railways carries 170% more Cement in last 4 Months (See 'Corp Brief') A&C - Once seat of arbitration is expressly designated by agreement of parties, that seat becomes juridical home of arbitration and operates akin to exclusive jurisdiction clause: SC (See 'Legal Desk') Self-reliance and jointness must for strategic autonomy & future-ready force: RM (See 'Corp Brief') Company Law - For purpose of maintainability of petitions u/s 397 & 398, expression ‘member' is not to be confined only to formal entry in register of members u/s 41(2): SC (See 'Legal Desk') NCB launches 6-Month Online Certification Program on Advanced Concrete Technology (See 'Corp Brief') IBC - While subsidiary companies are separate legal entities, corporate veil may be lifted if associated companies are inextricably connected so as to form one concern: SC (See 'Legal Desk') Supreme Court lays down scenarios for lifting of Doctrine of Corporate Veil (See 'CORP EINSICHTf')

Sahibganj MMT to open up sea trade for Bihar & Jharkhand: MoS

Published: Jul 16, 2019

By TIOLCORPLAWS News Service

NEW DELHI, JULY 16, 2019: THE Union MoS for Shipping, Mr Mansukh Mandaviya, yesterday in Parliament mentioned that the completion date of the Multi-Modal Terminal (MMT) being constructed at Sahibganj in Jharkhand on River Ganga (NW-1) under the Jal Marg Vikas Project is August this year. 

The Minister further mentioned that the Sahibganj MMT is strategically located in the logistic chain of Eastern Transport Corridor of India. Being close to both NH-80 and the Sakrigali railway station, the MMT is expected to boost cargo movement in the area, leading to extensive socio-economic and industrial development of the region. It would also provide alternate route for Nepal bound cargo and open up international markets for sea trade for land locked states of Jharkhand and Bihar.

Mr Mandaviya also informed that the projected traffic volume of Sahibganj MMT is 2.24 Million Tonne Per Annum (MTPA) by 2020-21 and the major cargo expected to be handled are stone chips, coal, cement, food grains, fertilizer and sugar. The MMT is projected to generate employment of 2500 persons.

TIOL CORP SEARCH

TIOL GROUP WEBSITES