Companies & Sectors
Coal India signs 161 fuel supply agreements with power plants

Coal India, the country's largest producer, has signed FSAs with power producers to supply fuel for producing 73,675MW of electricity


The Coal Ministry has said that state-owned Coal India Ltd (CIL) has signed 161 fuel supply agreements (FSAs) for a capacity of 73,675 MW with power producers.

"Following the CCEA (Cabinet Committee on Economic Affairs) directions for signing of the FSAs with the projects with 78,000 mw capacity, out of the 172 FSAs covering 134 LoAs (letter of assurances), as on date, CIL has signed 161 FSAs for a capacity of 73, 675 MW," the latest official document says.

The ministry added that there are 43 LoAs which are not covered within the 78,000 MW projects. Of this, 25 projects with a capacity of 19,635 MW have already achieved their milestones.

"In nine cases, milestones are under verification or the matters are sub judice. In the remaining nine cases, one full LoA and one part LoA have been cancelled. However, in four full LoAs and one part LoA, the commitment guarantee has been forfeited and matters are sub judice. In three LoAs, tapering linkage period has expired," the Ministry said.

According to an official, the remaining fuel supply pacts could not be signed as some of power producers are yet to achieve milestones like forest clearances.

The coal ministry had earlier said that CIL was yet to enter into fuel supply pacts with some of the power units as issues like change in ownership and extension of coal supplies were still being examined by it.

Two deadlines set for the signing of FSAs by CIL with the power producers could not be adhered to. The government had set the deadline of 31 August 2013 for signing of FSAs, which could not be met. The second deadline was set for September, last year.

The company, which accounts for 80% of the domestic coal production, dispatched 353.83 million tonnes (MT) of coal to the power sector in FY2014. CIL produced 462 MT in the last fiscal. It has targeted an output of 507 MT in the current fiscal.


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Lawsuit Exposes How Trump University 'PlayBook' Schooled Thousands

Lawsuit alleges The Donald swindled millions out of students with his eponymous institute


A class-action lawsuit against Donald Trump alleges that the real estate mogul and colleagues swindled millions of dollars from people who sought to learn The Don’s real estate secrets by enrolling in his eponymous Trump University. Here’s a breakdown of the allegations in the racketeering lawsuit, brought by a California man last month, who says the institute (which is now closed) bilked him out of more than $36,000.

  1. Not an accredited university. Though it may have charged similar rates to actual colleges for what the institute called the “full education,” Trump University had no sprawling campus. More importantly than dining halls and a quad, though, the New York State Education Department had warned Trump in 2005 that the institute was operating without the required license to call itself a “University.”

  2. Upselling at every turn. Attendees of the free introductory seminar were pitched costly programs at every turn. First, students — a “significant” number of whom were senior citizens — were persuaded to sign up for a $1,495 three-day workshop, then they were pitched a $35,000 “Gold Elite” program. The endless upselling could have cost students who bought into it all more than $70,000. Trump “literally had a PlayBook for his scheme … (containing) a chart depicting the upsell scheme executed across the country,” which even told instructors how to prepare the room, right down to setting a specific temperature.

  3. Thousands take the bait. Trump advertised that his handpicked “Team of Trump Experts” knew the secrets to making it big in the real estate market and you could too. One piece of mail read: “Come to my free class. In just 90 minutes, my hand-picked instructors will share my techniques, which took my entire career to develop.” But it was a lie. Trump didn’t handpick instructors. “In most cases, Defendant Trump did not even know who the instructors or mentors were, nor had he met them.”

  4. Teachers” paid to sell, sell, sell. What’s a pseudo university without a pseudo staff? Though Trump University made advertising claims that students would be lectured by a group of “professors and adjunct professors,” the instructors were in fact salespeople whose sole objective was to sign people up for more events — that’s how they got paid. In the PlayBook, the students were referred to as ‘buyers” and instructors asked them if they wanted to leave a legacy to their grandchildren and encouraged them to charge programs on their credit cards because they would “quickly make their money back.”

  5. Secrets kept secret. Despite advertising that leaned heavily on Trump’s celebrity — like the message “Are YOU My Next Apprentice? Prove it to me!” — Trump “did not contribute in any meaningful way to the curriculum” of the institute. Thousands of students paid thousands of dollars on the premise that they would learn the “insider success secrets from Donald Trump.” But in the end, The Donald’s secrets remained his own.

The class-action lawsuit seeks to recoup money for anyone who purchased an event from Trump University dating back to Jan. 1 2007. Meanwhile a ruling last month in a similar lawsuit brought by New York State Attorney Eric T. Schneiderman found Trump personally liable for operating the institute without the required license. The case is ongoing.

Trump has maintained his innocence throughout. After Schneiderman filed the lawsuit last year, Trump launched a website where he called the allegations “baseless” and questioned the integrity of the attorney general. Now, Trump says he’s considering reopening the institute.




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