MoEF to pass final order in Lavasa case in three weeks, HC told

Lavasa counsel Shekhar Naphade argued that as per a circular issued by the MoEF in another matter, if the ministry does not pass its final order within 45 days of the experts committee giving its clearance, then the committee's report is deemed to be final decision

Mumbai: The ministry of environment and forest (MoEF) today informed the Bombay High Court (HC) that it would pass its final order in the Lavasa case within three weeks, reports PTI.

"The ministry has accepted the recommendations along with the pre-conditions given by the experts appraisal committee formed to look into the matter. A final order would be passed by three weeks," additional solicitor general Darius Khambata, appearing for the Union ministry informed the court.

Lavasa Corporation, a subsidiary of Hindustan Construction Company (HCC), had challenged in HC, the 25th November notice issued by MoEF directing stay on construction for not obtaining mandatory environment clearances before starting the project in 2004.

Senior counsel Shekhar Naphade, appearing for Lavasa argued that as per a circular issued by the MoEF in another matter, if the ministry does not pass its final order within 45 days of the experts committee giving its clearance then the committee's report is deemed to be final decision.

"It has been 45 days since the experts appraisal committee submitted its report giving Lavasa clearance and the ministry has not yet passed its final order," Mr Naphade said.

Mr Khambata however, opposed this saying the committee has not given unconditional clearance to Lavasa. "The committee has only given its recommendations along with 34 conditions out of which five are pre-conditions which Lavasa has to comply with first," he said.

The division bench of justices Ranjana Desai and RG Ketkar has directed MoEF to file its affidavit in reply to Lavasa's argument by 23rd September.

The pre-conditions set by the committee include Maharashtra government to initiate credible action against Lavasa for violations under Environment (Protection) Act, submission by Lavasa in form of a formal resolution that violations would not be repeated and intensity of development shall be as per Hill Station Regulations and there would be a clear demarcation of no development zone.

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Tata Motors launches Tata Indigo e-CS VX

Tata Indigo e-CS VX is priced at Rs5,80,339 lakh (ex-showroom Delhi), for the CR4 diesel engine and the Tata Indigo e-CS GVX is priced at Rs4,97,727 lakh (ex-showroom Delhi), for the MPFi petrol engine

Tata Motors today launched the Tata Indigo e-CS VX, the most fuel-efficient sedan in the country, with a mileage of 25 kmpl, certified by the Automotive Research Association of India (ARAI). With a host of other exciting features in the car, the Tata Indigo e-CS VX is a new trim in the Tata Indigo e-CS range.

It sports the all new CR4 Common Rail Diesel engine that has a displacement of 1396 cc delivering 70 PS @ 4000 RPM. With a higher torque of 140 NM at a lower 1800-3000 RPM, improvements in gear ratios, clutch-to-start and reduction in the weight of the car by around 10kg, the Tata Indigo e-CS VX ensures better pickup.

The Tata Indigo e-CS VX is also available with the MPFi petrol engine. Both these engines are compliant with BS4 emission norms. This mileage of 25 kmpl in the CR4 Common Rail Diesel engine is hinged on five technological advancements.

The interiors have been enriched with dual-tone beige seating and dashboard, premium wood-finish centre console, new instrument cluster with chrome rings and rear centre armrest for enhanced comfort. The plushness is enhanced with keyless entry, ABS, Bluetooth connectivity and electrical controls for ORVMs, besides carrying forward the comfortable AC, power steering and power windows.

The car comes with a warranty of 18 months and unlimited kilometres, for private usage. The Tata Indigo e-CS VX is priced at Rs5,80,339 lakh (ex-showroom Delhi), for the CR4 diesel engine and the Tata Indigo e-CS GVX is priced at Rs4,97,727 lakh (ex-showroom Delhi), for the MPFi petrol engine.

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IndusInd Bank launches ‘FastForex’–Forex trading platform

FastForex online system automates rate quotation and executes low value, low risk transactions which facilitates dealers to concentrate on deals

IndusInd Bank announces the launch of FastForex-Forex trading platform, which assists its corporate customers to know the forex prices on a real-time basis. This platform enables the Bank's corporate customers to reach the FX Treasury via Internet and a standard web browser, which in turn, helps the treasury to price, execute, confirm and manage FX transactions with the customers seamlessly.

This online system automates rate quotation and executes low value, low risk transactions which facilitates dealers to concentrate on deals. With the implementation of FastForex, corporates do not have to key in at the dealing room or the back office; suitable deal input validations can now be performed by the system at the client level. The possibilities of errors in entering details at multiple places reduce considerably, since the deals now flow in directly from FastForex to the front office system.

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