Nation
Coal case: Court convicts RSPL, three officials
A special court on Tuesday convicted Delhi-based firm Rathi Steel and Power Ltd. (RSPL) and three officials for illegal allocation of Chhattisgarh's Kesla North coal block to the company.
 
Special Judge Bharat Parashar convicted the company and its CEO Udit Rathi, Managing Director Pradeep Rathi and Assistant General Manager Kushal Aggarwal under various charges dealing with criminal conspiracy and cheating.
 
The court ordered they be taken into judicial custody and fixed Wednesday for hearing.
 
Senior public prosecutor V.K.Sharma requested the court to award maximum punishment to the convicts for committing an economic offence.
 
Defence counsel of the accused has sought leniency on the basis of their good conduct during the trial.
 
The Central Bureau of Investigation (CBI) had charge-sheeted the company and the three officials.
 
An FIR against the company and its CEO was registered on June 19, 2013.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Seventh pay panel bonanza for government employees in August
The Central government employees will get fatter paychecks starting from August salaries, according to a gazette notification issued by central government on the Seventh Finance Commission report here on Tuesday.
 
The central government has decided to implement the seventh pay panel recommendations on salary and pension hike for its employees with effect from January 1, 2016, according to the gazette.
 
The pay panel outlay is pegged at Rs 1.02 lakh crore (or over $15 billion) from the government treasury during the current fiscal year.
 
The 16 per cent pay hike and 24 per cent increase in pension, with arrears from January this year, will affect 47 lakh serving central government employees and 53 lakh pensioners.
 
With regards to the allowances, Union Finance Minister Arun Jaitley late last month said till a final decision was taken by a panel headed by the Finance Secretary, all existing perks will be paid at the "existing rates".
 
The notification said as regards to the annual increment, instead of the earlier July 1, now there will be two dates of January 1 and July 1.
 
In a year the employee will be entitled for increment at one of these dates depending on his date of appointment, etc.
 
The minimum monthly salary of a central government employee has been fixed at Rs 18,000 from earlier Rs 7,000. 
 
The maximum will now be Rs 2.5 lakh for the Cabinet Secretary, which is more than double the current pay of Rs 90,000 a month for the country's top bureaucrat.
 
For other officers in the top scale -- secretary or equivalent -- the monthly salary will now be around Rs 2,25,000.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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COMMENTS

Vinayak Mahamunkar

10 months ago

Good news to Central Govt.Servants as well as States Govt. Employees.

Estuaries can become a power source
Scientists have found a new source of clean energy that will join the existing list of solar, wind, and hydropower, says a report in Nanowerk News, a leading nanotechnology portal.
 
The new source -- called osmotic power -- is generated by a process called "osmosis" that occurs when fresh water comes into contact with salt water through a thin membrane.
 
During osmosis, the salt "ions" pass through the membrane into the fresh water until both fluids have the same salt concentration. And since an ion is simply an atom with an electrical charge, the movement of the salt ions constitutes a current that can be harnessed to generate electricity.
 
According to the report, "researchers at Ecole Polytechnique Federale de Lausanne (EPFL) in Switzerland have developed an osmotic power generation system that delivers never-before-seen yields."
 
Key to their discovery is a few atoms thick membrane made of molybdenum disulfide which they developed. The membrane has tiny holes, or nanopores, through which salt ions pass into the fresh water until the two fluids' salt concentrations become equal. As the ions pass through the nanopores, their electrons are transferred to an electrode.
 
Thanks to its properties, the membrane allows positively-charged ions to pass through, while pushing away most of the negatively-charged ones. That creates voltage between the two liquids as one builds up a positive charge and the other a negative charge. This voltage is what causes the current -- generated by the transfer of ions -- to flow.
 
According to the report, this is the first time a two-dimensional material has been used for this type of application.
 
The power generation potential of the new system is huge. According to their calculations, a one square metre membrane with 30 per cent of its surface covered by nanopores should be able to produce 1-MW of electricity, enough to power 50,000 standard energy-saving light bulbs, the report said.
 
"And since molybdenum disulfide, used for making the membrane, is easily found in nature or can be grown by chemical vapour deposition, the system could feasibly be ramped up for large-scale power generation."
 
The researchers were able to run a nano-transistor from the current generated by a single nanopore and thus demonstrated a self-powered nanosystem.
 
The report says that once the systems become more robust, osmotic power could play a major role in the generation of renewable energy by harnessing the potential of estuaries which are bodies of river water with a free connection to the open sea whose water is salty.
 
While solar panels require adequate sunlight and wind turbines adequate wind, osmotic energy can be produced just about any time of the day or night provided there's an estuary nearby, it says.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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COMMENTS

Jyoti Dua

10 months ago

Very informative report. It gives a good feeling to know that mankind is moving towards renewable sources of energy.

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