DSP BlackRock MF launches 24 months fixed term plan

DSP BlackRock Mutual Fund new issue closes 14th November

DSP BlackRock Mutual Fund has launched DSP BlackRock FTP-Series 1-24M, a close-ended income scheme.

The primary investment objective of the schemes is to seek to generate returns and capital appreciation by investing in a portfolio of debt and money market securities. The scheme will invest only in such securities which mature on or before the date of maturity of the schemes. The tenure of the scheme is 24 months.

The new issue closes on 14 November 2011. The minimum investment amount is Rs5,000.

CRISIL Short Term Bond Fund Index is the benchmark index. Dhawal Dalal is the fund manager.

User

Tata Motors’ appeal assigned to new division bench of Calcutta HC

Appearing for West Bengal government’s industries department, senior counsel Kalyan Banerjee told the division bench comprising justice Sengupta and justice Bagchi that it did not have jurisdiction to hear the case

Kolkata: The chief justice of the Calcutta High Court on Tuesday assigned the appeal of Tata Motors (TML) challenging a trial court order upholding constitutionality of Singur Land Act to a new division bench after the state questioned whether an earlier bench had jurisdiction to hear the case, reports PTI.

Chief justice JN Patel assigned the TML appeal challenging the Singur Land Rehabilitation and Development Act, 2011, to a division bench comprising Justice Pinaki Chandra Ghosh and Justice Mrinal Kanti Chaudhuri.

TML had earlier moved the appeal and another application seeking extension of the stay on the single bench order before the division bench comprising justice KJ Sengupta and justice Joymalya Bagchi.

TML is likely to move the bench on Wednesday as justice I P Mukerji, while passing the order on 28th September, gave an unconditional stay till 2nd November.

The division bench presided by justice Sengupta referred to the chief justice the appeal by TML challenging the earlier order validating the Singur Act after the state questioned whether it had jurisdiction to hear the case.

Appearing for West Bengal government’s industries department, senior counsel Kalyan Banerjee told the division bench comprising justice Sengupta and justice Bagchi that it did not have jurisdiction to hear the case.


Mr Banerjee claimed that the appeal challenging the validity of the Singur Land Rehabilitation and Development Act 2011 should be heard by another bench presided by justice Pinaki Chandra Ghosh as such matters relating to challenge of validity of an act were under his jurisdiction.

Appearing for Tata Motors, barrister S Pal submitted that the bench headed by justice Sengupta had concurrent jurisdiction and could hear the appeal like all others and as such there was no question of lack of jurisdiction.

Hearing both the parties, the bench decided to refer the matter to chief justice JN Patel to clarify whether it had jurisdiction or not to hear the matter.

TML has challenged the order of justice IP Mukerji, who upheld the constitutionality of Singur Land Rehabilitation and Development Act, 2011, by which West Bengal government vested the land leased to the company at Singur, before the division bench.

The court had, after passing the order on 28th September, given an unconditional stay of the judgement till 2nd November to allow any aggrieved party to file an appeal, if it so desired.

Tata Motors, which was to set up its Nano car plant at Singur, had moved to Sanand in Gujarat in 2008 citing law and order problem.

User

Reliance’s KG-D6 gas output dips to 42 mmscmd

The Dhirubhai-1 and 3 gas fields and MA oil field in the KG-DWN-98/3 or KG-D6 block are currently producing about 42 mmscmd of gas, according to the status report filed by the company with the oil ministry

New Delhi: Reliance Industries (RIL) has seen natural gas output from its eastern offshore KG-D6 field drop to 42 million metric standard cubic meters per day (mmscmd), reports PTI.

The Dhirubhai-1 and 3 gas fields and MA oil field in the KG-DWN-98/3 or KG-D6 block are currently producing about 42 million metric standard cubic meter per day (mmscmd) of gas, according to the status report filed by the company with the oil ministry here.

The current output is a far cry from 61.5 mmscmd achieved in March last year and is almost at the 2009 production levels.

The Dhirubhai-1 and 3 or D1&D3 fields are producing less than 35 mmscmd of gas and the rest is coming from MA oilfield.

Reliance, the report said, has shut three wells due to high water ingress and sanding issues. Current output is from 14 wells out of the 18 wells drilled and completed so far on D1&D3 fields.

The MA oilfield is currently producing an average of 13,375 barrels of crude oil per day.

The report said 14.8 mmscmd of gas is being sold to the fertiliser plants and 24.59 mmscmd to power plants. The remaining is consumed by other sectors including by the East-West pipeline that transports gas from east coast to consumption centres in the west.

As per the status report, out of the 22 wells to be drilled in the Phase-I of Dhirubhai-1 and 3 field development plan, 18 wells have been drilled and completed so far. Of these, 14 wells were put on production as three wells were kept closed due to high water cut and the other well is not in production.

Minister of state for petroleum and natural gas RPN Singh had in August informed Parliament that output from KG-D6 was short of 70.39 mmscmd envisaged by now as per the field development plan approved in 2006.

While Reliance holds 60% interest in KG-D6, UK’s BP plc holds 30% and Niko Resources of Canada the remaining 10%.

Reliance started natural gas production from KG-D6 fields in April 2009.

User

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)