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: rail
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Diamond rail link may tap sovereign funds
The new government's big infrastructure project idea of a 'diamond quadrilateral railway project' to connect all the four metropolitan cities with high-speed rail, could mean a tapping of sovereign wealth funds to finance the mammoth cost, estimated to be at least Rs 12 lakh crore.
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Priority to critical rail links to carry coal
The new Union government will accord high priority to implementation of three critical rail links, a move that will ensure transportation of 300 million tonnes (MT) of additional coal amid shortages faced in the country. The three rail corridors are: Tori-Shivpuri-Kathotia.
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New Rail Ministers
Devaragunda Venkappa Sadananda Gowda has assumed charge as the new Union Minister of Railways at Rail Bhawan on 27 May 2014. Gowda was the 20th Chief Minister of Karnataka. Manoj Sinha has taken over as new Minister of State for Railways.
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Metro projects should not be a symbol of status: Experts
If there is money and technology, then opting for a metro project works. But if it's only for a status symbol, then it's not a well-deserved investment. Other investments should be explored before jumping on the metro bandwagon.
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China wants India to invest in Shenzhen
Indian industries are accustomed to Chinese imports, but a call to Indian investors to "come to Shenzhen"-a leitmotif at a recently held seminar in Mumbai-reminded them of the power of market forces. With a GDP of $200 billion and a per capita GDP of $20,000, the city of Shenzhen offers a dream-come-true story of growth and success.
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DFCCI awards Rs 67 bn corridor project to L&T consortium
Dedicated Freight Corridor Corporation of India (DFCCI) awarded a Rs 6,700 crore contract, the single largest rail contract so far in the country, to a consortium of L&T and Sojitz, a Japanese infrastructure major. The consortium is said to have received the letter of award for the project. According to the terms of the contract, the consortium is responsible for laying an 643 km of rail track between Rewari in Haryana and Palanpur in Guja
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Enabling environment holds the key
Logistics companies are slowly adopting best practices from around the world, helped by the ongoing efforts to modernise and create capacity in transportation and related infrastructure. M Gurunathan projects the growth for logistics in brick-and-mortar terms.
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State govt must rectify error on metro project
In order to implement the Hyderabad metro rail project successfully, the Andhra Pradesh government will have to rectify the technical error in terms of the Act governing the project. Earlier the Andhra Pradesh High Court said in its order that the project was being wrongly governed by the Tramways Act and unless it is changed to Metro Act it could not be called 'Metro
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Tata Steel despatches rails for metro project
L&T Metro Rail Hyderabad received the first consignment of rails despatched by the French unit of Tata Steel. Tata Steel's unit in France is said to be having a proven record of supplying rails to major railway projects in the world and also to the Indian market. These rails were transported by road on 60-feet special trailers to the Metro Rail Uppal depot after they were