Nine borrowers of microfinance institutions (MFIs) in Medak and Warangal districts of Andhra Pradesh filed a petition in the Supreme Court in early May 2013 challenging a state high court order. In February 2013, the Andhra Pradesh high court asked the state government to review a law that restricted multiple lending by MFIs to the same borro
Tag: Supreme Court
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Road work stranded due to lack of raw material
Road projects in Nashik came to a halt because of lack of availability of a key raw material, 'murum' soil, with the environment ministry yet to approve mining of stone quarrying in the district. It may be noted that the a Supreme Court (SC) order makes it mandatory to obtain environmental clearance for mining of minor minerals, even on land less than five hectare
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SC delivers verdict on PIL against Cairn-Vedanta deal
The Supreme Court ruled that the central government and ONGC conducted due deliberation before taking a decision on the $8.5 billion Cairn-Vedanta deal. The court ruled this while rejecting a public interest litigation (PIL) challenging the deal on the ground that there was a loss to state-owned ONGC on account of the sale
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Loan book of SKS may double in 2013-14
Some analysts expect the loan book of SKS Microfinance to double to Rs 3,000 crore by the end of 2013-14 from Rs 1,500 crore levels in 2012-13 even in the absence of fresh lending in Andhra Pradesh. The loan book of the company is expected to double on the back of its geographical expansion. The company has increased its presence in states such as UP, Rajasthan, Gujarat, amongst others and this may drive growth
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Loan book of SKS may double in 2013-14
Some analysts expect the loan book of SKS Microfinance to double to Rs 3,000 crore by the end of 2013-14 from Rs 1,500 crore levels in 2012-13 even in the absence of fresh lending in Andhra Pradesh. The loan book of the company is expected to double on the back of its geographical expansion. The company has increased its presence in states such as UP, Rajasthan, Gujarat, amongst others and this may drive growth
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Court allows SKS Microfin to resume business in AP
In an interim order, the Supreme Court allowed SKS Microfinance to resume microlending operations in Andhra Pradesh without securing a no-objection certificate from the state government. MFI operations in the state, by and large, came to a standstill after the state government introduced the Andhra Pradesh Micro Finance Institution (Regulation of Money Lending) Ordinance 2010
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Rs 20k cr worth stranded road projects to get nod
As the Union Environment Ministry is set to give its clearances to a clutch of stranded highway projects in one go, work could soon begin with a combined investments of over Rs 20,000 crore. The MinistryÂ’s blanket approval is enabled by its decision to de-link the environment and forest clearances (EC and FC) for road projects, as per a recent Supreme Court directive.
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SC’s nod to delinking of environment, forest clearances
The Supreme Court has approved the revised norms for infrastructure road projects that delink the environment and forest clearances - formulated by the Prime Minister's Office (PMO) last month to end the face-off between the environment and forests ministry and the National Highways Authority of India (NHAI). On the basis of its interpretation of a judgment in the case of Lafarge, the ministry had insisted such projects should take environment and forest clearances.
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Apex court allows work on road projects with only green nod
In a move that may benefit 25 road projects, the Supreme Court clarified that road developers can begin work on a project once it gets environment clearance, irrespective of whether forest clearance is granted or not. The court clarified this while hearing a case involving Ministry of Environment and Forests (MoEF) and road regulator National Highway Authority of India (NHAI). In the
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Ministry dilutes stance on clearance for road projects
In a clarification to the Supreme Court, the union ministry of environment and forests informed that road developers need not secure clearance to begin work on that part of a highway project falling in non-forest areas. But one of the conditions imposed by the ministry is that if a highway was to pass through a patch of forest, the