DFS successfully concludes nationwide campaign - Your Money, Your Right (See 'Corp Brief') Chouhan on a three-day visit to Maharashtra (See 'Corp Brief') DoP & SIDBI sign MoU for Contact Point Verification of Informal Micro Enterprises (See 'Corp Brief') Competition Law - Practice of tying the sale of urea with other fertilizer products amounts to agreement that causes or is likely to cause an appreciable adverse effect on competition in India, thereby contravening Sec 3 of Competition Act: CCI (See 'Legal Desk') NICDC Logistics Data Services completes 10 Years of Operations in Logistics Data and Digital Systems (See 'Corp Brief') PM to inaugurate exposition of sacred Piprahwa Relics on 3rd Jan, 2026 (See 'Corp Brief') WAVES Bazaar, One Stop Portal for Showcasing India's Creative Talents (See 'Corp Brief') Competition Law - Control over DCE compatibility & restrictive contractual conditions could effectively make exhibitors/producers captive customers of specific post-production processors, harming competition: CCI (See 'Legal Desk') We will be able to run Vande Bharat train through Mangaluru route: Vaishnaw (See 'Corp Brief') President of India to confer AI Certificates (See 'Corp Brief') Negotiable Instruments Act, 1881 - Summoning order quashed where complaint lacks specific averments regarding petitioner's direct involvement in issuance of dishonored cheques: HC (See 'Legal Desk') DFS Secy highlights key initiatives for deepening digitisation of tribunals (See 'Corp Brief') Framework for professionalized Sports Governance being constructed (See 'Corp Brief') Negotiable Instruments Act, 1881 - merely being Director in company is per se not enough to establish vicarious liability under Section 141 of the Act, without clear allegations of role in company's affairs: HC (See 'Legal Desk') NHAI signs MoU with National Test House to Strengthen Quality Assurance in Highway Projects (See 'Corp Brief') PMLA - Fact that property is retransferred to the beneficial owner after completion of purpose for which it was given to benamidar, provisions of PBPT Act are attracted and it does not exonerate any party to benami transaction: SAFEMA (See 'Legal Desk') DoT extends Pro-Tem Security Certification Scheme for two years from 01-01-2026 (See 'Corp Brief') PMLA - Even if predicate offences were not directly linked to appellants, ingredients of money laundering under PMLA could still apply as per settled legal precedent: SAFEMA Tribunal (See 'Legal Desk') PMLA - Attachments of even bank balances can be sustained if enforcement agency satisfies statutory scheme and evidentiary requirements: SAFEMA Tribunal (See 'Legal Desk') Joshi releases Indian Standard for Electric Agricultural Tractor (See 'Corp Brief') IPR - Generic or commonly descriptive word can never become trade marks on their own as they never acquire distinctiveness or a secondary meaning: HC (See 'Legal Desk') NTH signs MoU with DRDO's DMSRDE for research, testing and training collaboration (See 'Corp Brief') IPR - Kohinoor's trademark registrations in Delhi and marketing agreement executed between parties in Delhi were sufficient to vest territorial jurisdiction in Court: HC (See 'Legal Desk')

Print

HURL receives Rs 813 crore interest-free loan for plant revival project

Published: Apr 07, 2021

By TIOLCORPLAWS News Service

NEW DELHI, APR 7, 2021: THE Chemicals and Fertilisers Ministry on Tuesday handed over a cheque of Rs. 813.24 crore as interest-free loan to State-owned Hindustan Urvarak and Rasayan Ltd (HURL) for the revival of its Gorakhpur, Sindriand Barauni projects

Minister for Chemicals and Fertilisers Mr DV Sadananda Gowda said the loan will further strengthen HURL's financial condition during COVID-19 and assist it to complete its project in time.

The Cabinet Committee on Economic Affairs (CCEA) had approved the revival of Gorakhpur and Sindri units of Fertiliser Corporation of India Ltd (FCIL) and the Barauni unit of Hindustan Fertiliser Corporation Ltd (HFCL) in 2016.

The operationalisation of the plants will reduce the import dependency on urea by 38.1 lakh tonne per annum and save foreign exchange, said the minister. The capacity of each plant would be 12.7 lakh tonne per annum.

HURL was incorporated as a Joint Venture (JV) of State-owned National Thermal Power Corporation (NTPC), Indian Oil Corporation Limited (IOCL), Coal India Limited (CIL) and FICL to revive the plants by end of 2021

The Centre approved a grant of interest-free loan to the tune of Rs. 1257.82 crore to HURL –Rs. 422.28 crore for Gorakhpur (Uttar Pradesh), Rs. 415.77 crore for Sindri (Jharkhand) and Rs. 419.77 crore for the Barauni (Bihar) project.

The Gorakhpur plant is nearing 89 per cent completion, Barauni is at 85.1 per cent and Sindri at 86.1 per cent as on February 28, 2021.

TIOL CORP SEARCH

TIOL GROUP WEBSITES

taxindiaonline
taxindiainternational
tioltube
TKF
TIOLawards
A TIOL Website. Copyright © 2025 TIOLcorplaws.com All rights reserved.