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SC seeks reply from Centre, 61 firms on PIL alleging duty evasion in iron ore exports to China
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SC seeks reply from Centre, 61 firms on PIL alleging duty evasion in iron ore exports to ChinaPTI
Last Updated: Jan 15, 2021, 05:54 PM IST
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Synopsis
A bench headed by Chief Justice S A Bobde took note of the submissions of lawyer and PIL petitioner M L Sharma that the companies be prosecuted for alleged evasion of export duty by declaring wrong tariff code to export the iron ore under the Foreign Trade (Development and Regulation) Act, 1992.
Agencies Issue notice, said the bench which also comprised Justices Justices A S Bopanna and V Ramasubramanian.
Consider the irony. On the one hand, fixed deposit (FD) and non-convertible debenture (NCD)-holders are on the verge of losing a significant chunk of their tax-paid, hard-earned savings in Dewan Housing & Finance Ltd (DHFL), because they relied on dubious and falsely high credit ratings
Consider the irony. On the one hand, fixed deposit (FD) and non-convertible debenture (NCD)-holders are on the verge of losing a significant chunk of their tax-paid, hard-earned savings in Dewan Housing & Finance Ltd (DHFL), because they relied on dubious and falsely high credit ratings
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Jalpower Corporation (JPCL) was executing 120-mw Rangit Stage-IV Hydroelectric Project in Sikkim.
JPCL is currently undergoing Corporate Insolvency Resolution Process which was initiated on 9 April 2019 vide an order of NCLT and Sanjay Kumar Deewani was appointed as Interim Resolution Professional (IRP).
In its resolution proposal (RP), NHPC had proposed a resolution amount of Rs 165 crore as full and final settlement for all stake holders including financial, operational and other creditors.
NHPC s RP was found to be feasible and viable and the company was declared as the successful resolution applicant by Committee of Creditors (CoC) on 24 January 2020.
Earlier, NHPC had successfully acquired Lanco Teesta Hydro Power through the NCLT process.