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| « From the Courts » |
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 M/s Albroz Industries, Baddi, Distt. Solan Vs The ITO, Parwanoo, H.P. | | BEFORE SHRI J. SUDHAKAR REDDY, ACCOUNTANT MEMBER, AND SHRI R.S. PADVEKAR, JUDICIAL MEMBER | | Shri, A. Mohan Alankamony, Accountant Member and Shri Kul Bharat, Judicial Member | | M/s Overseas Carpets Limited,I-1/16, Shanti Mohan House, Ansari Road, Darya Ganj,New Delhi 110002 vs. ACIT, Circle 13(1),New Delhi Room No. 406, CR Bldg., New Delhi | | ACIT, Circle II, Moradabad.Vs. Sunil Saran Kothiwal,38, Civil Lines,Moradabad (PAN/GIR No.N.A.) | | Court On Its Own Motion vs. CIT (Delhi High Court) | | Asstt. Commissioner of Income Tax, Central Circle-9, New Delhi Room No. 357, ARA Centre, E-2 vs. M/s Moets Bar-B-Cue,50, Defence Colony Market, New Delhi 110 024 PAN/GIR NO. : AAAFM7936M | | ADIT, Cir. 1(1), (Intl. Taxation), 204, Drum Shape Building, IP Estate, New Delhi 110 002 vs. Ms. Meena Chopra, P-13, Ground Floor,Malviya Nagar, New Delhi | | CIT vs. Awadh Hotels (P) Ltd (Allahabad High Court) | | BEFORE SHRI H.L.KARWA, HON'BLE, VICE PRESIDENT AND SHRI MEHAR SINGH, ACCOUNTANT MEMBER | | BEFORE SHRI H.L.KARWA, HON'BLE, VICE PRESIDENT AND SHRI T.R.SOOD, ACCOUNTANT MEMBER |
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| « Court upholds suspended sentence for Hyundai chair... | China allows consular access to Indian duo on death row... » |
RCF to go ahead with revival plans for HFC, FCI plants |
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| June, 03rd 2008 |
The department of fertilisers (DoF) has asked the Rashtriya Chemicals & Fertiliser (RCF) to go ahead with the pre-project and pre-investment activities for the revival of Hindustan Fertiliser Corporations (HFC) Durgapur plant and Fertiliser Corporation of Indias (FCI) Talcher unit. The DoFs move comes in the wake of its decision to provide budgetary support for the revival of seven fertiliser units of HFC and FCI. FE broke the story in this regard, last week.
Sources told FE that the pre-investment activities include updating the techno economic feasibility report (TEFR) to current the level, with respect to costs and policy parameters of the new urea pricing scheme and submission of the TEFR for pre-investment board (PIB)/Planning Commissions in-principle approval. RCF has already increased its borrowing limit to Rs 7,000 crore from Rs 2,000 crore, considering an investment of Rs 6,800 crore (Rs 3,400 crore each) for the revival of Durgapur and Talcher units.
However, for finalising the TEFR, RCF would like to know from the DoF, whether, based on current status, the availability of gas for the two units would be possible within 3 to 5 years by December, 2011. Besides, the company wants an assurance letter from GAIL India and Reliance Industires for the gas supply.
For financing the projects, a JV approach would be followed by which RCF would pick up a 51% stake, while a private partner would hold the rest of the equity. For waiver of liabilities of the two units, RCF has sought the DoFs intervention so that necessary sanctions can be obtained.
The DoF would also look for the restructuring of public enterprises and high courtswhere the closure of these two units is pending. RCF also hopes that urea pricing and the policy for the revival of old units would be notified soon.
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