Adani Energy completes acquisition of Essar's Mahan-Sipat Transmission assets (See 'Corp Brief') Arbitration - Since settlement has not worked out Court decided to refer matter to arbitration : HC (See 'Legal Desk') Power Finance Corporation announces Highest Annual Profit (See 'Corp Brief') SEBI Act - Considering receipt of settlement amount by SEBI and fulfilment of non-monetary term of settlement, adjudication proceedings initiated against Applicant can be disposed of : SEBI (See 'Legal Desk') PMLA Act -Without discussion as to how property is involved in money laundering conclusions recorded by Adjudicating Authority cannot sustain : Tribunal (See 'Legal Desk') Mines Ministry organizes Workshop on Offshore Mining (See 'Corp Brief') SAFEMA - Appellant have furnished evidence which show satisfactorily that they took all reasonable steps to realise export proceeds : Tribunal (See 'Legal Desk') Companies Act - Winding up petition can be dismissed when contentions raised by parties constitute triable issues as Company Court cannot enter into adjudication of disputed facts of amount due and payable : HC (See 'Legal Desk') NHAI organises Workshop on implementation of Insurance Surety Bonds (See 'Corp Brief') Competition Act - In absence of any apparent anti-competitive conduct, decision of purchase or sale of product and quantity thereof is driven by commercial considerations of market players : CCI (See 'Legal Desk') Slum Rehabilitation Act - Preferential right to owner is available only when someone other than owner is being preferred and owner has never before been given or availed of right to develop : HC (See 'Legal Desk') CPC - Application can be dismissed as Intervener has already initiated its own remedy by way of independent Execution Petition : HC (See 'Legal Desk') Principal Scientific Adviser chairs meeting to discuss Biomass Cultivation (See 'Corp Brief') SEBI Act - Appellant has not shown sufficient cause for condonation of delay in filing appeal : SAT (See 'Legal Desk') PMLA - When questions relating to legality of arrest is under consideration, more holistic and libertarian view is to release Chief Minister of Delhi on interim bail for Lok Sabha General Elections : SC (See 'Legal Desk') Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act, 1976 - Order for forfeiture of properties is rightly made as property is occupied through lllegal earning : Tribunal (See 'Legal Desk') India Pavilion at World Hydrogen Summit showcases Green Hydrogen Mission (See 'Corp Brief') Arbitration Act - As petitioner is not notified as 'financial institution' or 'bank' under RDB Act, there is no bar on parallel proceedings to co-exist under A&C Act as well as SARFAESI Act : HC (See 'Legal Desk') Cr.P.C. - Once order issuing process has been set aside, then applicant has no right to file application u/s 482 of Cr.P.C. for quashment of complaint case : HC (See 'Legal Desk') Competition Act - WordPress.org is justified in taking appropriate action against any developer found non-compliant with prescribed standards and regulations : CCI (See 'Legal Desk')

Minister reviews progress of Talcher Fertilizers Ltd

Published: Jun 24, 2020

By TIOLCORPLAWS News Service

NEW DELHI, JUNE 24, 2020: MINISTER of Chemicals and Fertilisers DV Sadananda Gowda, yesterday took stock of progress of Talcher Fertilisers Limited (TFL).

During a meeting with Mr S.N. Yadav, MD and Mr S. Gawade, Director(operations) of Talcher Fertilisers Ltd. 

Talcher Fertilisers Limited is bringing up urea unit of 12.7 Lakh MT per annum capacity at Talcher, Odisha. It is a Joint Venture Company (JVC) promoted by GAIL, CIL, RCF and FCIL. When completed it will be first of its kind in India to employ coal gasification technology for production of urea. The estimated cost of the project is around INR 13,270 crore. The successful completion of the project will reduce India's dependency on imported urea, and is expected to create hundreds of direct and indirect employments. 

During the meeting Mr S.N. Yadav, MD briefed about status of progress of the project and various challenges being faced during execution of the project due to COVID-19 crisis. He said that work has started since May and has gathered pace. However, due to issues such as travel restrictions and shortage of laborers the project has got delayed by about six months as of today. He assured that the project will be commissioned at the stipulated deadline.

 Minister said that the COVID situation may have delayed the execution of the project at present, we must, however,  be prepared to compensate current delay by faster execution in future so that the project is commissioned by deadline i.e., September 2023. When commissioned TFL along with other four revival projects at Ramagundam, Gorakhpur, Barauni and Sindri will be able to realise the vision of  Prime Minister to achieve self-sufficiency in urea production.

TIOL CORP SEARCH

TIOL GROUP WEBSITES