According to the order of the Supreme Court, the Karnataka government has cancelled 51 iron ore mining leases in Category C. Holders of these mines were charged of carrying out rampant mining illegally outside the lease area and hence the Supreme Court ordered for cancellation of the mining leases some months
Tag: Supreme Court
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SC stays HC order asking NHAI to take up h’way project
The Supreme Court on June 12 stayed an order of Punjab and Haryana High Court that had asked the NHAI to take over the 291 Km Panipat-Jalandhar highway project from the project concessionaire Soma Isolux NH One Tollway Private Limited as it failed to complete the project by 2012. A bench of justices Gyan Sudha Misra and Madan B Lokur also issued notices to the Centre, Haryana and National Highway Authority of India (NHAI) on the plea of the project concessionaire and fixed the matter for heari
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Borrowers of MFI challenge HC order
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
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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.