The company's order for forest clearance to transport around 1.6 lakh tonnes of bauxite mined from Kolhapur district

The National Green Tribunal has dismissed Hindalco's plea challenging the Maharashtra government's refusal to grant it three more months, after expiry of its forest clearance, to transport around 1.6 lakh tonnes of bauxite mined from Kolhapur district. A bench headed by Justice V R Kingaonkar also declined to direct the state government to forward the company's proposal, for more time, to the Centre for grant of approval.

UltraTech Cement company on Friday said that it has temporarily shut down its Awarpur cement plant in Maharashtra, due to workers’ unrest, which has 3.6-million tonne production capacity.

Villagers from Mali Parbat are willing to compensate state for its loss in royalty from bauxite mines

Villagers protesting against Hindalco’s plan to mine bauxite at Mali Parbat in the Koraput district in Odisha have come up with a unique proposal that offers to compensate the state for its loss in revenue from royalty. Forty one villages from the district, two thirds of whose largely tribal population live below poverty line, have proposed to soon pass panchayat resolutions promising to pay . 35 crore, or what they estimate will be the royalty Hindalco is likely to pay the state over 15 years of the project’s life. Hindalco estimates that its industrial activity in the backward region will earn the state three to four times as much.

Sharing the concerns of the Dongria Kondh tribe of Niyamgiri in Kalahandi district whose protests had put a halt to Vedanta’s bauxite mining plan two years ago, over hundreds of tribals, under the

PPT and Bhushan Steel among offenders, closure direction on Hindalco CPP

The State Pollution Control Board (SPCB) has issued showcause notices on eight industries in 2012-13 for causing pollution and violating the norms of the board. Three other industries- Hindalco Industries' captive power plant at Hirakud (Sambalpur), Singhal Enterprises Pvt Ltd-Hirma (Jharsuguda) and Shyam Metaliks & Energy Ltd-Lapanga (Sambalpur) have been served closure directions.

‘The Supreme Court on Friday refused to stay recovery of entry tax dues amounting to more than R350 crore, payable on goods imported by companies for their plants and services in Orissa between 2008 and 2012. Companies including Vedanta Aluminium and Tata Steel have been slapped notices over these dues.

A bench headed by Justice HL Dattu, while issuing notice to the state government, refused to grant interim stay against the Orissa High Court’s order that upheld the state’s decision to tax the import of capital goods under the provisions of the Orissa Entry Tax Rules, 1999. However, the state government said it will not take any coercive action against the firms.

The three firms -- IOC, RIL and BPCL -- have retained their last year's respective ranks

State-run Indian Oil Corp is the biggest company in terms of revenue, followed by Reliance Industries, according to the Fortune 500 list of Indian companies for 2012. This year's list of the country's 500 largest corporations, compiled by the business magazine Fortune's Indian edition, features as many as 55 new entities.

Mumbai Govt looks to sell 12.15% through OFS route to raise about R1,400 crore

The government has, on several occasions, indicated that it plans to embark upon its FY13 divestment plan by selling 10-12% stakes in natural resources giants National Aluminium company (Nalco) and National Mineral Development corporation (NMDC). While market observers believe that NMDC is an attractive bet due to the regulatory issues faced by rival Sesa Goa, they think Nalco may not see similar interest from investors given its operational problems.

Essar Power today said it has received 'stage 1' forest clearance from the Ministry of Environment and Forests for its Mahan coal block in Madhya Pradesh.

Proposal was mooted by coal and power ministries to curb profiteering by miners

The law ministry has raised questions about the logic behind making rate-based bidding mandatory for coal miners. “The law ministry has asked the coal ministry whether rate-based bidding actually benefits consumers of power. The ministry is now seeking the power ministry’s opinion on the query,” a senior official close to the development told Business Standard.