In a statement filed at Bombay Stock Exchange, Punjab National Bank (PNB) said it approved the issuance of preferential shares worth Rs 1,250 crore to the central government. Accordingly, the state-run bank would issue preference shares with face value of Rs 10 each. The proposed preferential allotment will be subject to necessary appr
Tag: clearance
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Cairn India awaits nod for exploration
The management committee that overseas the production of crude oil by Cairn India in the Rajasthan oilfields is expected to meet soon. Cairn India is awaiting the approval of the committee for exploration in the delineated area in the Rajasthan oil field so that it could raise oil production. Once approved, the company would be able to raise prod
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Chennai port wants govt to restore security nod for APSEZ
Chennai Port wants the government to revoke the cancellation of security clearance for Adani Ports and Special Economic Zone (APSEZ) to participate in the port's proposed Rs 3,686 crore container terminal project. Chennai Port plans to build a container terminal than can load 4 million standard containers a year when fully oper
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Ministry may miss 9,500 km road project target
Agency reports suggest that the union road ministry may not be able to award 9,500 km of projects, as was targeted, by the end of 2012-13 because several reasons like delays in environment clearances. Between Apr-Dec 2012, the ministry could award contracts for only 1,100 km of road projects. The main fact
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NHAI open to out of court settlement with green min
Reports suggest that National Highways Authority of India (NHAI) is open for an out-of-court settlement on the issue of de-linking environment clearances from forest if the environment ministry agrees. In a petition filed at the Supreme Court, NHAI called for delinking of environment approval from forest clearance to hasten highway development
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NHBF seeks prior approval for highway projects
In a letter to NHAI, the National Highways Builders Federation (NHBF) recommended that highway projects should not be called for bids before securing requisite clearances, for land acquisition, environment, forest and wildlife. NHBF is a lobby body for highway developers and the letter is also addressed to the Highway Ministry and Finance Ministry on
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AP seeks single window clearance for port projects
Andhra Pradesh minister for ports Ganta Srinivasa Rao urged the centre to provide a single window clearance from the ministry of environment and forests for port expansion projects. He said this during the 14th Maritime State Development Council (MSDC) meeting in Mumbai. During the meeting, Rao called for relaxing the condition that a port has to go for public hearing for
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CCI to decide on clearing investment in blocks
Reports suggest that the Cabinet Committee on Investments would deliberate on giving approval to investment in several oil and gas blocks that are struck because of lack of statutory clearances. CCI would meet on January 15 to deliberate on stalled infrastructure projects. According to union oil ministry, around 47 oil and gas blocks require clear
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NHAI may sue environment ministry for delaying nod to projects
National Highways Authority of India (NHAI) is considering to drag union environment ministry to the court because of delay in granting environment clearance for road projects. It may be noted that recently road developer GMR Infrastructure withdrew from the contract to develop a meg
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RBI allows infra finance firms to borrow more via EBCs
Infrastructure finance companies can raise funds upto 75 per cent of their net worth through external commercial borrowing (ECB) without seeking clearance from the Reserve Bank of India (RBI). This is because the central bank liberalised the norm in or