Companies & Sectors
Goa: Suspension of mining operations won’t affect trade of extracted ore

Goa government initiated action on Monday evening following recommendations of the Shah Commission, which had claimed that these leases were illegal as they did not have the permission of National Board for Wildlife

 
Panaji: The Goa government while suspending licenses of all the 90 mining leases, pending verification of documents has allowed transportation and trade of ore already mined and existing either in lease hold area, in transit or stored at jetties, reports PTI.
 
In pursuance of the Justice MB Shah Commission report, the government suspended the lease-licenses yesterday.
 
The order signed by Prasanna Acharya, Director of Mines and Geology, has mentioned that the suspension of mining operations shall not affect trade and transportation of ore already mined and existing in the lease hold area, in transit or stored or stocked on jetties.
 
The lease holders or traders who have procured such quantities of ore shall report the exact location of existence of ore, within a period of seven days to Director of Mines and Geology, the order mentions.
 
The Mines department has also been asked to form teams for inspection of quantities of ore lying at the lease hold areas or such place as mentioned by lease holders or traders.
 
"The team members shall be randomly selected from mines, forest and revenue departments (of Goa government)," the order reads.
 
The state government initiated action last evening following recommendations of the Shah Commission, which had claimed that these leases were illegal as they did not have the permission of National Board for Wildlife.
 

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Religare's NCD to open on 14th September

Religare Finvest plans to raise Rs250 crore through NCDs and would use the funds for various financing activities

 
Mumbai: Finance company Religare Finvest Ltd's proposed public issue of non-convertible debentures (NCD) will open for subscription on 14th September.
 
Religare Finvest plans to raise Rs250 crore with an option to retain over-subscription of up to Rs250 crore. Money raised through the NCD will be used for various financing activities. This includes lending and investment, to repay existing debt and other business activities and operations, the company said in a release.
 
The issue will close on 17th September, he said.
 
The minimum application size for the Issue is Rs10,000 or 10 NCDs of face value of Rs1,000 each. The NCDs offered through this Issue are of varying tenures of 36 months and one day, 60 months, 70 months and 72 months. The NCDs offers annualised returns of up to 12.6184%. The NCDs with a tenure of 70 months and 72 months under Series V, offers only the cumulative option, will double the investment, the company said in a release.
 

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Government asks ministries to make public tour details of ministers

This 'suo motu' decision was taken following several applications under the RTI Act seeking details of official tours undertaken by ministers and other officials

 
New Delhi: In a move aimed at increasing transparency, the Union government on Tuesday asked all its ministries to make public details of official foreign and domestic tours undertaken by ministers and senior officers, reports PTI.
 
The details will include nature of the official tour, places visited, the period, number of people included in the official delegation and total cost of such travel undertaken by a minister or senior officers.
 
The "suo motu" decision was taken after central government departments received frequent applications under the Right to Information (RTI) Act seeking details of official tours undertaken by ministers and other officials.
 
"It has been brought to the notice of this Department that public authorities are receiving RTI applications frequently asking for details of the official tours undertaken by ministers and other officials of the ministries or departments concerned.
 
"In compliance with the provisions of Section 4 of the RTI Act, 2005, it is advised that public authorities may proactively disclose details of foreign and domestic official tours undertaken by minister(s) and officials of the rank of Joint Secretary to the Government and above and Heads of Departments, since 1 January 2012," according to a directive issued today by Department of Personnel and Training (DoPT).
 
The disclosures may be updated once every quarter starting from 1 July 2012, it said.
 
The decision, official say, was in compliance of Section 4, sub section 2 of the RTI Act, 2005 which mandates a public authority to take steps for providing as much information suo motu to the public at regular intervals through various means of communications, including Internet, so that the public has minimum resort to use the transparency law to obtain information.
 
However, the directive will not be applicable on security and intelligence organisations including RAW, IB, CBI and Enforcement Directorate among others which are exempted from providing information under the RTI Act.
 
Besides, Chief Vigilance Officers (CVOs) of government departments and public sector units have been kept out of this directive, the DoPT said in an official memorandum sent to all ministries, chief secretaries and union territories.
 
"The information will be put on the concerned department or ministry's website," a DoPT official said.
 

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