PMLA -Bail application can be dismissed as petitioner failed to satisfy conditions for grant of bail : HC (See 'Legal Desk') ACC delivers lifetime highest annualised PAT (See 'Corp Brief') SEBI Act - Appellants have failed to substantiate their claim of financial distress nor have they brought any new fact or circumstances requiring grant of interim relief : SAT (See 'Legal Desk') Trade Mark Act - Marks are visually phonetically and deceptively similar to Plaintiffs' trademarks : HC (See 'Legal Desk') SJVN inaugurates First Multi-purpose Green Hydrogen Pilot Project (See 'Corp Brief') IBC - Even if CIRP commences, Directors, who are incharge of affairs of Company cannot be absolved of any wilful default committed by borrower Company : HC (See 'Legal Desk') REC to extend loan of Rs 1869 Cr for Kiru Hydro Electric Project (See 'Corp Brief') IBC - Corporate Insolvency Resolution Process can be initiated for failure to repay debt due and payable : NCLT (See 'Legal Desk') CCO declares grading of coal and lignite mines (See 'Corp Brief') SARFAESI Act - Writ petition can be disposed of as infructuous as one time settlement has been entered into between parties : HC (See 'Legal Desk') PM addresses Conference on Disaster Resilient Infrastructure (See 'Corp Brief') SARFAESI Act - Award of interest on auction money at rate applicable to fixed deposits is not a correct view and rate of interest deserves to be enhanced: SC (See 'Legal Desk') CCI okays subscription to debentures of Napino Auto by IFC (See 'Corp Brief') Constitution of India - Writ jurisdiction of Court cannot be used by party for collecting evidence and documents against another party, against whom petitioner has pending disputes : HC (See 'Legal Desk') World Energy Congress 2024: Power Secy, Ambassador to Netherlands inaugurate India Pavilion (See 'Corp Brief') PMLA - Considering money trail and involvement of applicant in crime he is not entitled for anticipatory bail : HC (See 'Legal Desk') Competition Act - Informant has neither referred to any particular agreement nor provided any document which suggest existence of anti-competitive agreement : CCI (See 'Legal Desk') CSIR implements new in-house 'Accounts Manager Software' for financial management (See 'Corp Brief') PMLA - Applicant is not entitled for grant of anticipatory bail u/s 45 of PMLA as Court does not find any reasonable ground to believe that applicant is not guilty of crime : HC (See 'Legal Desk') SARFAESI Act - Petition has been filed to overreach recovery proceedings, wherein Petitioners have been found to be liable to pay certain amount so as to circumvent provisions of statutory appeal : HC (See 'Legal Desk') IREDA reports All-Time High Annual Net Profit, NPAs below 1% (See 'Corp Brief') SARFAESI Act - District Magistrate is under statutory obligation to decide application u/s 14 of the SARFAESI Act within thirty days : HC (See 'Legal Desk') IBC - Wilful defaulter proceeding cannot be relatable to recovery of debt but is merely an off-shoot of debt : HC (See 'Legal Desk') Competition Act - Since it is agreement between enterprise and end consumer, same is not covered within ambit of Section 3(4) of Act: CCI (See 'Legal Desk') Govt announces election of 11 members Veterinary Council of India (See 'Corp Brief') Companies Act - Charges of professional misconduct in SCN are proved for which monetary penalty can be imposed : NFRA (See 'Legal Desk') PMLA - Application for anticipatory bail can be rejected as there is failure on part of applicant to appear before trial Court despite service of bailable warrant : HC (See 'Legal Desk') IBC - There is no scope of interference in writ petition since there is no arbitrariness, mala fides or palpably illegality in impugned order : HC (See 'Legal Desk')

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India sends 2 Mobile Harbour Cranes to enable Chabahar Port to carry seamless cargo handling

Published: Jan 18, 2021

By TIOLCORPLAWS News Service

NEW DELHI, JAN 18, 2021: INDIA has supplied a consignment of two Mobile Harbour Cranes (MHC) to Iran's Chabahar port, with a total contract value of over USD 25 Million under a contract agreement for supply of 6 MHC. The consignment of cranes arrived from Marghera port, Italy has been unloaded successfully on 18th January, 2021 at Chabahar port and presently undergoing trials run.

With 140 metric tons lifting capacity, multipurpose equipment and accessories like Mobile Harbour Cranes (MHC) will enable  India Ports Global Limited (IPGL) to provide seamless services for Container, Bulk and General Cargo at Shahid Beheshti Port of Chabahar.

This is a step towards India's commitment towards infrastructure development of Shahid Beheshti Port of Chabahar.

The bilateral contract between the Islamic Republic of Iran and Republic of India was signed on 23rd   May 2016 with a total value of USD 85 million for Equipping, Mechanizing and starting Operations at Shahid Beheshti Port of Chabahar development Phase-I. To achieve this ambitious aim, an SPV namely India Ports Global Limited (IPGL) Mumbai was incorporated under the ambit of the Ministry of Ports, Shipping and Waterways.

Minister of Ports, Shipping and Waterways (I/C), Mr. Mansukh Mandaviya stated that Chabahar Port is a strategic port with great national importance. The delivery of consignment of heavy equipment, including cranes shows India's commitment to the strategic connectivity of Chabahar port project that will provide access to markets in Central Asia. Development of Chabahar port is the anchor for the expansion of economic and mutual relations between India and Iran and it will give a further boost to the maritime trade between both the countries.

The location of Chabahar Port has strategically advantage and high potential to provide connectivity among India, Iran, Afghanistan, Uzbekistan and other CIS countries specially Eastern CIS countries to increase trade between these countries.

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