The West Bengal government and Chaterjee group, promoters of HPL are locked in a bitter battle over transfer of shares of the company
Kolkata: The Calcutta High Court on Wednesday refused to pass an interim stay on any proposal for transfer of shares of Haldia Petrochemicals Ltd (HPL) to Indian Oil or ONGC, reports PTI.
Justice Indira Banerjee, while refusing to pass an interim stay on a plea by Winstar India Investment Company Ltd promoted by the Chatterjee Group (TCG), kept the order in abeyance till 25th June so it could appeal against the order before a higher court.
The court, however, did not intervene on the question of Winstar's submission that it did not have any representation on the board of HPL, despite having a 7.5% stake in the company.
Winstar had moved the court of Justice Indira Banerjee yesterday claiming that a board meeting of HPL was scheduled to be held in Kolkata during the day to allow transfer of shares to Indian Oil or ONGC.
Winstar claimed that it held 7.5% in HPL, but had no representation on the board of the company and as such could not have a say in the proceedings. Justice Banerjee had then directed that status quo be maintained till today.
The West Bengal government and TCG, promoters of HPL, the largest petrochemical company in West Bengal, are locked in a bitter battle over transfer of shares of the company.
Mobile operators in Nigeria blame the bad quality of services on poorly developed infrastructure like electricity which, they say makes it cumbersome to deliver services to subscribers
Abuja: Airtel Nigeria, subsidiary of Bharti Airtel, South Africa's MTN, Abu Dhabi's Etisalat and local operator Globacom have paid $3.7 million in fine imposed on them by the country's telecom regulatory authority for poor quality of service, reports PTI.
"MTN, Globacom and Airtel paid at the close of work on Monday this week, while Etisalat paid at the close of work on Tuesday," Nigerian Communications Commission (NCC) sources who opted to remain anonymous told PTI on the phone.
NCC had penalised the four operators in the country for poor quality of services after a Key Performance Indicators (KPIs) test carried out on their networks for the months of March and April.
The Managing Director and Chief Executive Officer of Airtel Nigeria, Rajan Swarup confirmed to PTI that his company has paid the fine.
Last month, NCC spokesman Reuben Muoka had said the four operators failed to meet with the minimum standard of quality of service.
The NCC had arrived at the decision on testing the operators on four parameters -- Call Set-up Success Rate, Call Completion Rate, Drop Call Rate and Traffic Channel Congestion.
Nigeria has a population of 150 million making mobile telephony a highly profitable venture but customers often complain of poor services.
Many people prefer to carry more than one phone so they could have an alternative connections when one fails. However, the operators blame the bad quality of services on poorly developed infrastructure like electricity which, they say makes it cumbersome to deliver services to subscribers.
Nonetheless, Airtel Nigeria, which started operations in 2010 was awarded as the best GSM operator in the country, 2012 by NCC.
BHEL is finding it difficult to transport heavy equipment to other parts of country from its plant in Tamil Nadu and hence is setting up a unit in Bhandara district in Maharashtra
Nagpur: State-run Bharat Heavy Electricals Ltd (BHEL) is setting up a fabrication unit at a cost of Rs1,000 crore and a Photovoltaic manufacturing plant with Rs3,000- crore investment near Sakoli in adjoining Bhandara district, reports PTI.
The state-run power equipment maker already has a fabrication unit in Tiruchirappalli in Tamil Nadu but was finding it difficult to transport heavy equipment to other parts of country. Faced with logistical problems, the company has decided to set up a new unit near Sakoli, Union Minister for Heavy Industries Praful Patel said.
The photovaultic unit will be first of its kind in the country, he told a select group of reporters in Bhandara on sidelines of an auto industry job fair for ITI and polytechnic students from Bhandara and Gondia districts.
About 500 acres of land was being acquired by the public sector undertaking for the facilities, which would provide direct and indirect employment to about 2,000 youths from the area, said the Lok Sabha MP from Bhandara-Gondia.
He said officials from top IT companies like TCS, Infosys and Wipro recently visited Bhandara and Gondia to explore the possibility of setting up Basic Training Centres where IT professionals would be trained and later absorbed in these firms.
A 1,300 MW private power plant, promoted by Gayatri Group of Hyderabad, is also coming up at Mohadi in Bhandara district, the NCP leader said.
An investment to the tune of Rs8,500 crore was expected in the power sector, the Minister said, without giving details.
Talking about the job fair, Patel said it provides an opportunity to boys and girls from rural areas to get employment in the auto and related industries.