Moneycontrol on March 22 was the first to report that the Union government is pushing power generation companies (gencos) to buy gas and scale up electricity generation from stranded or underutilised gas-based power units.
Between March 2015 and August 2016, the Mumbai zone of the Directorate of Revenue Intelligence had issued issued show-cause notices (SCNs) against several Essar Group companies. . The agency said investigations showed the group allegedly siphoned off funds abroad through GSF, an intermediary in the UAE, which was controlled and managed by the Ruia family through the ultimate holding company of the Essar Group.
Mumbai News: DRI Move Customs Tribunal In Essar Group Case freepressjournal.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from freepressjournal.in Daily Mail and Mail on Sunday newspapers.
The eight-month long extension has been directed by the Ministry of Power owing to a surge in electricity demand, inadequate supply of domestic coal and reduced hydropower generation.
Due to the surge in power demand and subsequent load-shedding, the Central Electricity Regulatory Commission on August 15 also directed all power distribution companies to promptly requisition their power needs to the generating companies