IndiGrid inks pact to acquire 74% stake in Parbati Koldam from Reliance Infra


India Grid Trust on Saturday said that it has inked an agreement to acquire 74 per cent stake in Parbati Koldam TransmissionCompanyfrom


“India Grid Trust has signed sharepurchase agreement on November 28th, 2020 for acquisition of 74 per centin Parbati Koldam TransmissionCompany Ltd(PKTCL) from Ltd,” a BSE filing said.



The completion of acquisition would dependupon receipt of relevant approvals and completion of contractual obligations, it added.


According to filing, the implied enterprise value (for 100% equity shares) is Rs900 croreinclusive of cash & cash reserves andnormalised tariff receivables, subject to adjustments on account of movement in cash, deviation in outstandingdebt, tariff receivables, assets, liabilities outstanding.


PKTCL was incorporated on September 2, 2002. PKTCLis joint venture between Limited (74%) and Power Grid Corporation of India Limited(26%).


PKTCL operates 458 circuitkilometres of transmission lines constituting inter-statetransmission system for evacuation of power from theParbati-II HEP implemented by NHPC Limited andKoldam HEP implemented by NTPC Limited.


The Assetwas fully commissioned in June 2015. During the FY2019-20, PKTCL had a total Revenue of Rs 209 crores.

(Only the headline and picture of

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French Protesters Clash With Police Over New Security Law

Violent clashes erupted in Paris Saturday as tens of thousands took to the streets to protest against new security legislation, with tensions intensified by the police beating and racial abuse of a black man that shocked France.

Several fires were started in Paris, sending acrid smoke into the air, as protesters vented their anger against the security law which would restrict the publication of police officers’ faces.





Protesters are calling for the controversial article to be withdrawn
 AFP / JEAN-FRANCOIS MONIER

Some 46,000 people marched in Paris and 133,000 in total nationwide, the interior ministry said. Protest organisers said some 500,000 joined nationwide, including 200,000 in the capital.

President Emmanuel Macron said late Friday that the images of the beating of black music producer Michel Zecler by police officers in Paris last weekend “shame us”. The incident had magnified concerns about alleged systemic racism in the police force.



The article in the "global security" draft law seeks to limit filming and photographing police officers on duty with the intent of harming their "physical or psychological integrity


The article in the “global security” draft law seeks to limit filming and photographing police officers on duty with the intent of harming their “physical or psychological integrity”
 AFP / JEAN-FRANCOIS MONIER

“Police everywhere, justice nowhere” and “police state” and “smile while you are beaten” were among the slogans brandished as protesters

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Speed of economic recovery a ‘pleasant surprise’: Niti Aayog’s Rajiv Kumar


Vice Chairman on Friday termed the speed of India’s economic recovery as a “pleasant surprise” and said manufacturing shows a positive growth that confirms a rebound.


India’s economy recovered faster than expected in the September quarter as a pick-up in manufacturing helped GDP clock a lower contraction of 7.5 per cent and held out hopes for further improvement on better consumer demand.



“Speed of #economic recovery springs a pleasant surprise. #Manufacturing shows a positive growth which is the confirmation of a rebound of demand led recovery,” Kumar said in a tweet.


The gross domestic product (GDP) had contracted by a record 23.9 per cent in the first quarter of the 2020-21 fiscal (April 2020 to March 2021) as the coronavirus lockdown pummelled economic activity.


With the gradual opening up from June, the economy has picked up, according to official data released on Friday.


Manufacturing clocked a surprise 0.6 per cent growth in July-September after it had shrunk by a massive 39 per cent in the preceding quarter.


Continuing its good showing, the agriculture sector grew by 3.4 per cent,

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Uber, Ola surge price capped; 10-hour break must for taxi drivers


Ride-hailing aggregators such as and have been brought under the Centre’s regulation, implying greater scrutiny and stringent penalties for any non-compliance related to passenger fare and labour rules like working hours of drivers. Government control over the cab tariff structure tops the list of regulations. The new norms, as per the Motor Vehicle Aggregator Guidelines 2020, have mandated a cap on surge price, preventing aggregators from charging more than 1.5 times of the base fare.


The new legal framework would also mean a driver working with Ola, or similar aggregator cannot be logged in for more than 12 hours in a day. There has to be a mandatory 10-hour break after working for 12 hours. For cancellation of bookings, either by the driver or the rider, the penalty has been fixed at 10 per cent of the fare, but it cannot exceed Rs 100.



The cab aggregator stares at suspension of licence on multiple grounds —if it fails to ensure safety of its riders, if it charges higher rates repeatedly and in case it fails to comply with the contractual obligations towards drivers. If the aggregator receives

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Tips for getting on top of self assessment tax return deadline

Whilst the 2018/19 tax year end may seem like a distant memory, the 31st January 2020 deadline for filing online Self Assessment tax returns is fast approaching.

Here is a handy checklist to help business partners, those who are self-employed and others with taxable income to prepare for the end of the month with the help of their accountants – and without breaking a sweat.

First time filing a return? Register. If this is your first time filing your tax return online, it’s vital you ensure that you have requested a Unique Taxpayer Reference (UTR) if you don’t already have one, and activated your account using the code sent to you in the post. As it can take up to 10 working days to receive your code, it’s important to register today to avoid missing the 31st January deadline and having to pay a fee.

Pile up your paperwork. Before you or your accountant can submit your return, you’ll need various documents including your National Insurance number, a record of your untaxed income from the 2018/19 tax year, proof of any income you’ve been taxed on already such as your P60 or P45, details of any pension or charitable

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