NHAI Successfully defends Major Arbitration Case to Safeguard Public Funds (See 'Corp Brief') Companies Act - Coal beneficiation cannot per se be excluded from ambit of manufacturing process to justify quashing of criminal complaint at preliminary stage: HC (See 'Legal Desk') Digital India BHASHINI conducts Multilingual AI Workshop for Haryana Vidhan Sabha (See 'Corp Brief') MISC - RBI, possessing superior expertise in financial administration over cooperative authorities, has independent power to supersede board of a cooperative bank under the Banking Regulation Act - Principles of natural justice do not apply to Section 36AAA of Banking Regulation Act 1949: HC (See 'Legal Desk') Youth Unrest & CJP Agitation: Key Learnings (See CORP EINSICHT) IPR - Patent offices cannot rely on mere hypotheses or hindsight to dismiss technical advancement: HC (See 'Legal Desk') 'Corporate Mitra Scheme' Awareness Webinar Successfully Organized by IICA Shillong (See 'Corp Brief') Rajya Sabha organises Orientation Programme for newly elected Members (See 'Corp Brief') IBC - Service of insolvency petition on corporate debtor's registered email address available in MCA records constitutes valid service, if accompanied by attempts at service at registered office and publication in accordance with NCLT Rules: NCLAT (See 'Legal Desk') Coast Guard rescues 170 Persons in Flood Relief Operations across Daman, Dadra & Nagar Haveli (See 'Corp Brief') IBC - Prior or parallel proceedings under SARFAESI and before DRT do not bar Section 95 insolvency application: NCLT (See 'Legal Desk') Public Advisory: Beware of Fraudulent Air Suvidha 2.0 Websites (See 'Corp Brief') IBC - Liquidation application allowed where corporate debtor is not a going concern, has prima facie nil asset value & where requirements of Section 33 of IBC 2016 are met: NCLT (See 'Legal Desk') Committee discusses consumer-centric framework for parallel distribution licensing (See 'Corp Brief') NHA convenes BRICS Dialogue on strengthening Continuum of Care Through Digital Health (See 'Corp Brief') IPR - Storing copyrighted literary works solely for training LLM constitutes 'Fair Dealing' u/s 52(1)(a) of Copyright Act: HC (See 'Legal Desk') PM Ekta Malls and PMFME Scheme strengthen Market Access for ODOP Products (See 'Corp Brief') AP Postal Circle Emerges as Nation's Best Performer in Q1 (See 'Corp Brief') PM Vishwakarma Scheme rolls out in West Bengal (See 'Corp Brief') NHAI extends 'Clean Toilet Picture Challenge' till 30th June 2027 (See 'Corp Brief') IPR - Statutory timelines for entering national phase and requesting examination under Patents Act are rigid, mandatory, and cannot be extended: HC (See 'Legal Desk') NICDC organises Cross-Learning Site Visit to AURIC Smart City (See 'Corp Brief') IPC and CSIR-CIMAP renew collaboration to advance Medicinal Plant Research (See 'Corp Brief') PMLA - ED can validly attach specific commercial units equivalent to value of diverted crime proceeds regardless of whether entity was named in predicate FIR: SAFEMA (See 'Legal Desk') CCI approves acquisition of 100% equity share capital of NCR Atleos Corporation (See 'Corp Brief') Chouhan to provide relief to Totapuri mango farmers of AP, TN and Karnataka (See 'Corp Brief') IPR - In passing off action, plaintiff must prove not only similar name but actual misrepresentation and strong likelihood of consumer confusion: HC (See 'Legal Desk') 3.75 Lakh Students and Researchers Benefited Under INSPIRE Programme: MoS (See 'Corp Brief') NHAI strengthens Framework for Engaging Professionals in Highway Consultancy (See 'Corp Brief') IPR - Passing off action can be seamlessly expanded into infringement action if they share common factual foundation: HC (See 'Legal Desk') Expanded BRICS represents Opportunity to shape the Future of Global Health (See 'Corp Brief') IBC - Disputes involving 'rights in rem' that affect overarching corporate structure and public interest, cannot be settled in private arbitration: NCLT (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.