The traditional owners at the centre of the Juukan Gorge controversy said Rio Tinto’s response to a parliamentary inquiry had only deepened their anguish.…
Day: August 9, 2020
E-auction for commercial coal mines likely in October, results in November
The online auction of coal blocks for commercial mining and sale for private companies will commence in October and final winners declared in November, said a government’s notice on Saturday. The Centre has also extended the deadline for various processes under the auction including a site visit, sale of tender documents, and submission of technical bids.
In a revised schedule shared on e-commerce portal of MSTC, the nominated authority for coal auction, the last date of submission of queries by bidders has been extended to September 11. The first deadline expired on July 23. In earlier comments submitted to the ministry of coal, several investors raised concerns about the timing of the auction citing Covid-19 as the dampener.
Several investors asked the government for a deferment of the auction process by three months, mentioning it will help bidders make an informed decision.
ALSO READ: Commercial coal mine auction during Covid-19 a dampener: Investors
According to the new schedule, the due date for submitting a technical bid is September 29 and e-auction would be conducted during October-November. The last date for submission of the request for site visit has been extended
IndusInd Bank acquires 7.82% stake in Eveready by invoking pledged shares
Private sector IndusInd Bank on Saturday said it has acquired 7.82 per cent stake in battery maker Eveready Industries by invoking pledged shares following loan default.
The bank invoked pledge on 56,83,320 shares forming 7.82 per cent of paid-up equity share capital of Eveready Industries.
“The equity shares of Eveready Industries India Ltd. held by Williamson Magor and Co. Ltd were pledged with the bank for securing the outstanding dues of Seajuli Developers & Finance Limited (Seajuli), the borrower company. The bank has invoked the pledge held on aforesaid shares for recovery of its dues from Seajuli,” IndusInd Bank said in a regulatory filing.
The bank also informed about acquiring 7.5 per cent (78,32,253 shares) in tea firm McLeod Russel India Ltd by invoking pledged shares following default by the borrower.
“The equity shares of McLeod Russel India Ltd. held by Williamson Magor and Co. Ltd. were pledged with the bank for securing the outstanding dues of Seajuli Developers & Finance Limited (Seajuli), the borrower company. The bank has invoked the pledge held on the aforesaid shares for recovery of its dues from Seajuli,” it said.
Protesters Seize Lebanon Foreign Ministry After Deadly Blast
Lebanese protesters stormed the foreign ministry in Beirut on Saturday as anger exploded over a deadly blast that made hundreds of thousands homeless and shocked the world.
Thousands of demonstrators, some of them brandishing nooses, had descended on the city centre to vent their fury at politicians they blame for Tuesday’s explosion, which levelled Beirut port and killed 158 people.
Amid the outpouring of rage, Prime Minister Hassan Diab said he would seek early elections, saying it was the only way to “exit the country’s structural crisis”.
Demonstrators marched through streets ravaged by the blast, gathering in the central Martyrs’ Square, where a truck was on fire, as their grief gave way to anger.
As security forces fired tear gas to disperse strone-throwing demonstrators who tried to push their way toward parliament, a group led by retired Lebanese army officers stormed the foreign ministry and declared it the “headquarters of the revolution”.
“We are taking over the foreign ministry as a seat of the revolution,” Sami Rammah, a
