POWERGRID records PAT of Rs 15,573 crores (See 'Corp Brief') Companies Act - Petitioner is liable to be tried as petitioner under garb of petition is trying to get proceedings quashed although on different grounds : HC (See 'Legal Desk') PMLA - For import advance taken but not repaid, property of accued is rightly attached as it is covered within definition of Proceeds of crime u/s 2(1)(u) of PMLA : TRIBUNAL (See 'Legal Desk') Drugs and Cosmetics Act - In absence of necessary averments prosecution against Directors of company cannot be permitted to continue : HC (See 'Legal Desk') IICA, MCA hold inter-ministerial workshop on 'Responsible Business Conduct in India' (See 'Corp Brief') IBC - No writ petition is maintainable challenging interim orders of Arbitral Tribunal and same can be challenged only in Section 34 proceedings : HC (See 'Legal Desk') NTPC gets global recognition for Talent Development (See 'Corp Brief') PMLA Act - Since warrant has been issued by Court but applicant is not appearing therefore not entitled to anticipatory bail : HC (See 'Legal Desk') Competition Act - Once buyer purchases product from seller at given price, it cannot insist to avail benefit of any future discount which may be offered on such product by seller : CCI (See 'Legal Desk') ULIP workshop brings States together to enhance India's Logistics (See 'Corp Brief') Companies Act - Winding up proceedings pending before High Courts, which are at nascent stage ought to be transferred to NCLT : HC (See 'Legal Desk') AG Venkataramani addresses Annual Day commemoration of Competition Commission of India (See 'Corp Brief') Arbitration Act - Court does not have jurisdiction to entertain petition in absense of exclusive jurisdiction clause or otherwise as seat of arbitration is at place where arbitration is conducted : HC (See 'Legal Desk') Land Acquisition Act - Acquisition of land has been made contrary to purposes for which it can be acquired under Land Acquisition Act, 1894 : HC (See 'Legal Desk') DoT trained 350 in month-long 5G course (See 'Corp Brief') PMLA - If accused appears before Special Court pursuant to summons, he shall not be treated as if he is in custody and it is not necessary for him to apply for bail : SC (See 'Legal Desk') Constitution of India - Action of refusing to forward petitioner's application for deputation as also denial of NOC to join respondent as Executive Director is arbitrary : HC (See 'Legal Desk') NTIPRIT conducts workshop on 'Global Standards & IPR' (See 'Corp Brief') SARFAESI Act - No civil court can exercise jurisdiction to entertain any suit or proceeding in respect of any matter which DRT or DRAT is empowered by or under Act : HC (See 'Legal Desk') Copyright Act - Impugned Copyright is evidently a substantial reproduction of the Petitioner's copyrighted work, bordering on a colourable imitation : HC (See 'Legal Desk') MP Tourism to set up Museum in Bhopal (See 'Corp Brief') FERA - Appellant can not be absolved merely on basis of his denial about arranging foreign exchange transaction overseas when seized documents and explanation offered by concerned persons estabish his involvement : Tribunal (See 'Legal Desk') PMLA - Application seeking interim bail on ground of surgery of wife can be disposed of as date of surgery has not yet been fixed : HC (See 'Legal Desk') Arbitration Act - Ad-interim injunction can be granted and Respondents be restrained from taking any action which would result in disruption in credit card services through use of licensed software : HC (See 'Legal Desk') 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') 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') Power Finance Corporation announces Highest Annual Profit (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') 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')

Rs 32,578 Cr loans sanctioned for Renewable Energy projects during FY 2022-23

Published: Mar 28, 2023

By TIOLCorplaws News Service

NEW DELHI, MAR 28, 2023: INDIAN Renewable Energy Development Agency Ltd. (IREDA) has achieved a significant milestone by achieving the loan disbursement of Rs. 16,320 during FY 2022-23. The earlier highest annual loan disbursement was during FY 2021-22 of Rs. 16,071 crores. IREDA also crossed highest annual loan sanction of Rs. 23,921 crores (loan sanction in FY 2021-22) and touched loan sanction of Rs. 32,578 crores (as on 27th March 2023).

The company has been actively contributing to India's transition towards a sustainable and clean energy future by providing financial assistance to Renewable Energy projects across the country at competitive rates.

Speaking on this achievement, Pradip Kumar Das, Chairman and Managing Director, IREDA, said, "The record-breaking loan disbursement and sanction reflects the company's commitment towards its mission of promoting and financing Renewable Energy projects in India. We are confident that, this will further strengthen our position as a leading financial institution in the RE sector in the country."

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