Rlys to provide additional coal to NTPC’s 2 plants

New Delhi: Indian Railways has assured state-owned NTPC of supplying it with additional coal for improving power generation at its stations in Farakka in West Bengal and Kahalgaon in Bihar, reports PTI.

The additional supply will help improve the generation level at both the stations to about 500 MW. They have been producing power at lower capacity due to coal shortage.

Sources said that at a meeting of senior officials of the two sides, Indian Railways has assured NTPC of additional movement of coal to the plants.

The railways will make arrangements for moving two more coal rakes a day to the stations, they added. A rake of coal roughly equals to 4,800 tonnes.

The Farakka and Kahalgaon stations have total installed capacity of 1,600 MW and 2,340 MW, respectively.

These two power projects faced critical coal shortage in the past due to transportation hurdles from the Rajmahal mines allotted for these plants, thereby leading to low electricity generation.

Last year, the government gave approval for implementing the Rajmahal Opencast Expansion Project, from 10.5 million to 17 million tonnes per annum with an estimated capital investment of Rs153.82 crore.

NTPC, on its part, has taken several initiatives to ensure increased availability of coal by buying it from different mines of Coal India, beside e-auctions and imports.

The installed capacity of NTPC is over 32,194 MW. It operates over 27 power stations across the country.

Currently, over 17,000 MW capacity is under construction at 17 projects in 12 states and NTPC plans to become a 75 GW company by 2017.


ML Foundation Event Update: Wills, nomination and transmission

Jayesh Desai, senior associate, Singhi & Co, engaged a large and enthusiastic audience on the issue of wills, nomination and transmission at the Moneylife Foundation on 9 October 2010

Dying without executing a 'will' can lead to a bitter and public dispute between the legal heirs, as was the case with the Ambani brothers. On the other hand, leaving a will behind may not guarantee against litigation, as was witnessed in the tussle over the inheritance of Priyamvada Birla that was contested by her confidant RS Lodha and the Birlas. Last month, the Bombay High Court rejected two different wills submitted by feuding siblings, both signed by their mother.

These cases notwithstanding, it is important that one executes a will-irrespective of whether you are young or old. A will is an expression of one's wish or desire. It is a legal document in which one gives instructions about what should be done with the money and property after one's death.

The issue of wills, nominations and transmission was discussed at a seminar conducted by Moneylife Foundation on 9 October 2010. Jayesh Desai, senior associate, Singhi & Co, engaged an enthusiastic audience. The vastness of the issue and the complications that do arise were brought out in the numerous questions by the participants.

Mr Desai elaborated on what is a will, its importance and terminology; he explained the requirements of a will and types of wills, the need for a probate, the cost of a probate, how to make changes in the will; and described crucial details involving documentation of nominations.

The main elements of a will are the name and identity of the author/testator, two witnesses and their addresses, the list of assets and their distribution. This must be signed by two witnesses and the testator in the presence of each other.

The different types of wills are: Privileged and Unprivileged wills, Conditional or Contingent wills, Joint wills, Mirror wills/Mutual wills, Duplicate wills, Concurrent wills, Sham wills and Holograph wills.

It may be surprising to know that 'nominations' can mean different things, based on the type of assets whether it is real estate, shares, bank account, insurance policy, and so on. There are differences also in the matter of probate, based on the location of the author of the will and the location of the property.

The religion of an individual matters for succession differently under the Hindu Succession Act, Muslim personal law, Parsi personal law,  Christian law and for others by default under the Indian Succession Act. Each has different tables for arriving at legal heirs in the absence of a will. The law also treats ancestral property differently, based on whether it is acquired by will or without a will.

There is a lot of confusion about wills. The facts on some of these issues are as follows: No stamp duty is payable on a will; no special paper is required to execute a will; registration of a will is not compulsory; in Mumbai, a will needs to be probated; a will should clearly demarcate the share of each of the beneficiaries.
Most of the questions that were raised by the participants related to their individual situations. Mr Desai addressed each question patiently, clearly explaining all important aspects.

Moneylife Foundation has planned more seminars on the subject of wills and nominations in response to the huge number of registrations that are still coming in for this programme.

Everybody would want to ensure proper legacy for their loved ones. The way to do this is through a comprehensive will and by completing nominations and transmission formalities for one's movable and immovable properties. Getting a will right is crucial if disputes between heirs over legacy are to be avoided. A will could clear the way. 
Pictures of the event



bharat shah

7 years ago

"As per sec.57 of Indian Succession Act if the will is executed only at metro cities like bombay,madras and calcutta,the probate is required,otherwise probate is not required. Will has to be probated if executed in Presidency towns, U can go for mutation basing on inheritance by will. Mutation only if the will is not disputed by others,otherwise probate at district court."

Subrahmanian S H

7 years ago

Sincere thanks.
In fact I missed the workshop badly as I didn't know the date.
We need a session on "Succession Issues". Kindly keep in mind.


7 years ago

Query: You have mentioned that 'in Mumbai, a Will needs to be probated'. Well, this is news. First of all, it is not clarified whether 'each and every Will whether consisting property or not should be probated ?' Secondly, if it is that Wills involving property should be probated, then I know of a case where recently a residential property in Mumbai was transferred to the beneficiary (out of four legal heirs with three issuing N.O.C. and indemnity from the beneficiary) by a Co-op. Soc. based on the Will without it being probated. Probating of a Will should not be mandatory and should be left to the legal heirs. If they expect a dispute then they can probate it, since probating is a time consuming and expensive affair. When even registering a Will is not mandatory, why Probate should be mandatory ? Seeking clarifications, answers, opinions on this.

Tackling inflation a challenge; haven't failed in the task: FM

New Delhi: Finance minister Pranab Mukherjee today dubbed managing high inflation as one of the biggest challenges before him, though adding that he has not failed on this front, reports PTI.

"One of my biggest challenges is to control inflation but at the same time, I should not stand in the way of higher growth trajectory. It is a difficult challenge for any finance minister", he said in an interview to India Today magazine.

Inflation for the month ended August was 8.5%, while food inflation was 16.24% for the week ended 25th September.

The minister further said the government has been able to bring down food inflation from 20% to 16%.

"I would not say I have failed. I have been able to reduce it from the peak it reached in December 2009 which it was as high as 20%. Now it has been brought down to 16% ", he added.

However, Mr Mukherjee said, "It is a matter of concern since inflation hits the poorer sections the most."

Answering questions on focus of economic policies of Congress, he said, "Aam aadmi (common man) has always been in focus but in different forms."

"When we talk inclusive growth, we talk of him when we talk of growth with equity or garibi hatao, the aam aadmi has always been at the centre but with different definitions and requirements," he added.

Referring to Goods and Services Tax (GST), Mr Mukherjee said, "There is a broad political consensus on about the necessity of GST, about the need to remove multiple points of taxation...it may take some time but it will be possible."

Mr Mukherjee admitted that there were reservations from some states who think that GST would deny them the autonomy of imposing tax "which they believe is their sovereign right...I don't think politics should be mixed with major economic decisions."

The Centre is trying to evolve a consensus on constitutional amendments to implement GST, which will eventually subsume several indirect taxes like excise, service tax, sales tax, etc.


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