VA Tech Wabag Limited (WABAG) has signed an agreement with Peak Sustainability Ventures (Peak) to establish 100 Bio-CNG plants in India, GCC, Africa, and Europe. The collaboration aims to generate over 73 Million Kgs of Bio-CNG per annum, reducing the need for fossil fuels. Wabag will be responsible for execution, commissioning, and operation of the plants, while Peak will provide energy-related inputs and assist in raising capital.
A new report reveals that 41% of the Indian population still relies on biomass for cooking, emitting 340 million tonnes of CO2 annually. The study, titled "India s Transition to E-cooking" by the Centre for Science and Environment, highlights that the Pradhan Mantri Ujjwala Yojana has not ensured a sustained transition to clean cooking. Globally, 2.4 billion people lack access to clean cooking solutions, resulting in significant damage to the economy, public health, and the environment. Indoor air pollution from wood-based cooking causes about 3 million premature deaths annually, with 0.6 million in India.
Real estate major Sunteck Realty has entered into agreements to redevelop two prime projects valued at over Rs 3,000 crore in Nepean Sea Road and Bandstand localities of South Mumbai. The projects, spread over 1.5 acres, are expected to generate a sale potential of over 3 lakh sq ft. Sunteck Realty s portfolio will add a Gross Development Value (GDV) of Rs 3,000 crores, expanding its presence as a major player in the Mumbai property market. Despite higher interest rates and rising property prices, the Mumbai property market has achieved a new all-time high in 2023.
Former railway board chairman and CEO, Anil Kumar Lahoti, has been appointed as the chairman of Telecom Regulatory Authority of India (Trai), becoming the third non-IAS officer to hold the position. Lahoti, an Indian Railway Service of Engineers officer, is the ninth chairman of the regulatory body. The Ministry of Personnel, Public Grievances and Pensions approved his appointment for a three-year term.
The tribunal, while setting aside the objection petition, observed that the successful bidder had offered a better plan as compared to the objector and more importantly, the committee of creditors, after keeping in mind all the factors such as feasibility and viability of the plan, has unanimously approved the plan. A total of 7,058 companies across sectors were brought into administration from the inception of the Insolvency and Bankruptcy Code in 2016 until September-end 2023, according to the latest data from the Insolvency and Bankruptcy Board of India.