-PTI Castigates the company for fraudulent practices in winning an aided project in Tamil Nadu The World Bank has barred Larsen & Toubro (L&T) from doing any business with it or the projects funded by it for six months, after finding that a senior executive of the conglomerate has indulged in fraud. The debarment will continue till September 6, making L&T ineligible for being awarded contracts for any World Bank-funded projects, from receiving...
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CAG questions costing of 350-acre Gurgaon land sold to DLF -Navneet Sharma
-The Hindustan Times In what seems set to provide fresh ammo to its political rivals, the comptroller and auditor general (CAG) is learnt to have raised questions about the valuation of 350 acres given by the Haryana government to realty major DLF Limited in Gurgaon through competitive Bidding for setting up a recreation-cum-leisure project. The CAG, which examined the procedures and the competitive Bidding route taken by the Haryana State Industrial and...
More »Local electronics units pin big hopes on National Optic Fibre Network, project to bring broadband to 2.5 lakh villages-Neenu Abraham
-The Economic Times BANGALORE: It is one of the most expensive and ambitious projects in India's technology history connecting 2,50,000 gram panchayats in the country with a fibre optic network. It would need Rs 21,000 crore and as it is being planned now, the project needs exceptional project management, cutting-edge technology, and close coordination between several government agencies. While the government is preparing to start the project in the next two months,...
More »Coalgate probe stalls as CBI awaits files from ministry -Rajeev Deshpande & Neeraj Chauhan
-The Times of India More than five months after the CBI began investigating Coalgate, the agency is yet to receive hundreds of files from the coal ministry as it probes charges of criminality in allocation of coal blocks to private players. Although CBI has been sifting through an enormous mass of information regarding coal block allocations that the CAG has said caused a loss of Rs 1.86 lakh crore to the government,...
More »Centre has sole right to allocate major minerals: Coal Ministry-Samanwaya Rautray & Meera Mohanty
-The Economic Times The coal ministry, in an affidavit to the Supreme Court, has said that it has the sole legal right to allocate coal blocks even as the state governments own the blocks and eventually grant the mining leases. In response to the query of the apex court, which questioned the ministry's authority in this regard, the coal ministry said that though there was no express statutory provision, a combined reading...
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