Bank guarantees are an integral part of a contract, but these have been encashed under dubious circumstances in a number of cases. Prachi Manekar examines the legal recourse available to aggrieved parties.
Tag: India
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Coal demand falls
Global coal prices and demand have fallen, as coal is being replaced by other sources of energy. It is replaced by shale gas in the US and is likely to lose out to renewable energy in China. In India, the new government is keen to accelerate mining to unlock indigenous coal reserves of 200 billion metric tonnes.
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IL&FS Group’s foray into port & logistics: Fujairah and Dighi
IL&FS Group has had a long association with the infrastructure sector specifically in the promotion and development of greenfield projects. The Group's maritime division IL&FS Maritime Infrastructure Company Ltd (IMICL)
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L&T breaks new ground in offshore engineering and construction
India's heavy and growing dependence on imported energy is putting financial strain on the economy. More than half of India's $191 billion trade deficit in the financial year 2012-13 was due to oil imports,
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Volvo Trucks President becomes a stuntman
Claes Nilsson is President of Volvo Trucks and he does not hesitate to stand on a truck dangling more than 20 metres up in the air as he stars in a film where Volvo's new construction truck is put to the test.
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The Go-Getter
Arun Chandran, Managing Director - SynergiZ Global Services Private Limited & Project Director -(Parsons Brinckerhoff)- L&T Hyderabad Metro Rail, has over 17 years of management and engineering experience in design, installation, testing and commissioning of major infrastructure projects in varied sectors like aviation
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Legal eagle
Avantha Group Company CG has appointed Ravi Rajagopal as its Executive Vice-President & Global Head - Legal, Governance and Risk. Rajagopal will also be a member of the Executive Committee of CG.
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New age leader
Siddharth Vasudevan, Executive Director Corporate Affairs, Vascon Engineers Ltd. is a strong source of inspiration as an emerging entrepreneur for new age business leaders of the company.
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A Great Innovator
Shantha Martin is CEO - ISC, Middle East, South & East Africa, Allcargo Logistics. She heads the NVOCC division. She holds a B. Sc. Degree and an MBA (Marketing) from TAPMI, Manipal.
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GVK faces action over road project
The National Highways Authority of India (NHAI) has served showcause notices for termination and debarment on GVK Transportation for failure to mobilise the needed money for the Rs 2,815-crore Shivpuri-Dewas project in Madhya Pradesh. The company was awarded the project in January 2012.