• In an interview Mr Anil Kumar Jha, CMD, Coal India Ltd said that in view of the economic slowdown, as far as Coal India is concerned, there is absolutely no slowdown. CIL is not in a position to meet country’s coal demand but trying to bridge the demand supply gap as much as possible.
  • Talking about the target this year, he said in the last six months, CIL have fallen behind its target.
  • He has also talked about the law and order issues, clients’ requirements and disinvestment plans.
  • The Supreme Court has asked the Centre and NHAI as to why they should not be asked
    to pay arbitration award dues of Rs 6,070 crore to Ajit Gulabchand-led Hindustan
    Construction Company (HCC), which is facing insolvency proceedings before the
    National Company Law Tribunal.
  • A bench led by Justice RF Nariman last week issued notice to Ministries of Finance,
    Road Transport and Highways and Law & Justice and Company Affairs and also NHAI,
    NHPC, Ircon International, NTPC and National Institution for Transforming India in this
    matter.
  • The outstanding dues of distribution utilities towards power producers have risen by over
    57% to ₹73,748 crore in July this year, as compared to the same month last year,
    showing stress in the sector.
  • According to the PRAAPTI portal, distribution companies (Discoms) owed a total
    of ₹46,779 crore to power generation companies in July 2018. The portal was launched
    in May 2018 to bring transparency in power purchase transactions between generators
    and discoms.
  • In order to give relief to power generation companies, the Centre has enforced a
    payment security mechanism from August 1. Under this mechanism, Discoms are
    required to open letters of credit for getting power supply.
  • The data on the portal indicates that the outstanding as well as overdue amount has
    increased over the preceding month. In June 2019, the total outstanding on discoms
    was ₹69,905 crore, while the total overdue amount was ₹51,748 crore.
  • Builders going to the National Company Law Tribunal is becoming a headache for many
    homebuyers. And with the Supreme Court holding the status of homebuyers as financial
    creditors, many who are stuck with incomplete projects could soon find themselves being
    part of the insolvency proceedings. In some cases, it has already started.
  • Home buyers’ body FPCE has made the following recommendations to the Prime
    Minister’s Office
  • To bring officials enforcing the provisions of the Real Estate (Regulation &
    Development) Act (RERA) under the ambit of the Central Vigilance Commission;
  • All orders passed under RERA should be subjected to audit by the Comptroller
    Auditor General of India (CAG) to check for compliance with RERA provisions;
  • Raised concern over statements made by state regulators against RERA.
  • A web link should be made available to the public and an audit of the website
    should be ordered by state governments to check whether RERA provisions are
    being implemented;
  • An orientation course for all RERA officials in which they are counselled to stick
    to the brief;
  • Housing ministry should recommend to the state governments to issue
    showcause notices to the chairpersons/members of their state, for their alleged
    campaign against RERA;
  • All RERA authorities be barred from attending the events organised by builders’
    bodies as this can result in a conflict of interest.
  • Coal India has abandoned its move to cut supplies to inefficient power plants following
    resistance from customers. It had planned to cut the yearly quota by 80 million tonnes.
  • Coal India was to supply 560 million tonnes to these power companies going by their
    consumption norms. According to the new calculation, they were to receive 477 million
    tonnes, almost 83 million tonnes less.
  • A senior power company executive said the move would have reduced supply in the
    sector that is growing at 6% per annum. It would have reduced capacity utilisation, which
    is already down to around 60%, and increased losses apart from disrupting electricity
    supply.