The most-debated aspect of the bill is its recommendation for substantial payouts to people living in Mining areas, including a profit-sharing clause that seeks to have companies pay out 26% of their net profit The Mines and Minerals (Development and Regulation) (MMDR) bill, which seeks to replace a decades-old Mining law, has been introduced in the Lok Sabha, an official in Parliament said on Monday. The government has drafted the new bill...
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As losses mount, Areva goes in for huge job cuts by Vaiju Naravane
French nuclear giant Areva, which is planning to sell India six masssive1650 MWe EPR nuclear reactors for the Jaitapur site in Maharashtra, is facing serious financial difficulties with net losses in 2011 placed at well over €1 billion. Areva's CEO, Luc Oursel, announced drastic job cutbacks and the sale of over €2 billion worth of assets, essentially in the company's uranium mines sector, to offset these losses. Trading in the company's...
More »High Court stays clearance for DB power coal mine in Chhattisgarh by Aman Sethi
The Chhattisgarh High Court has directed that no further action be taken towards granting environmental clearance to a coal mine operated by DB Power Ltd, a subsidiary of DB Corp, one of India's largest media corporations. The respondents have been given three weeks to reply. A writ petition filed in the court accuses the company of adopting “deliberate, illegal and manipulative” measures to influence the outcome of a public hearing held...
More »Hollywood crew heckled in Gujarat for 'showing India in bad light'
-The Times of India It was high drama at Ahmedabad airport as rickshaw drivers stopped the shooting of Hollywood film 'American Gandhi' outside the domestic arrival terminal. Eyewitnesses at the airport said that if the film crew at Ahmedabad airport had not left the campus then the gathered crowd would have in all possibility damaged their expensive equipment. "At around 12.15 pm, the crew members started setting up their equipment outside the...
More »Supreme Court: the balancing act by Nikhil Kanekal
Despite criticism of the appointment process, and pendency , the Supreme Court appears to enjoy public confidence like no other institution As the Supreme Court of India approaches its final week of hearings for the year, a look back shows it has dominated the national consciousness by ruling on myriad issues. The court was conceived by the framers of the constitution to deal mainly with fundamental questions of law. But India’s top...
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