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  • TRAI recommends 3G spectrum auction at 22% lower base price Dec 31, 2014 01:26 PM IST

    TRAI recommends 3G spectrum auction at 22% lower base price

    The Department of Telecom, however, is optimistic of getting 5 Mhz of 3G spectrum (2100 Mhz band) from the Defence Ministry.

  • Delay in wagon induction causes Rs 1635 cr loss: CAG Dec 19, 2014 04:08 PM IST

    Delay in wagon induction causes Rs 1635 cr loss: CAG

    Punching holes in the railways' freight management, the Comptroller and Auditor General has found deterioration in the various efficiency parameters causing hindrance in smooth goods train operations and sought streamlining of the monitoring mechanism.

  • Oil Min to cut subsidy burden of ONGC, adjust cess payment Dec 08, 2014 02:57 PM IST

    Oil Min to cut subsidy burden of ONGC, adjust cess payment

    According to a new subsidy sharing formula, the payout of upstream oil producers like ONGC is to be reduced to the extent of Rs 4,500 per tonne oil development cess they pay to the government, sources privy to the development said.

  • CAG says SEZs taxed more than domestic tariff areas Nov 28, 2014 07:47 PM IST

    CAG says SEZs taxed more than domestic tariff areas

    The CAG report shows that SEZs are being taxed about 37 percent, which is higher than domestic tariff areas. But the government is not ready to make life easier for SEZs just yet.

  • Kelkar panel opposes revenue-sharing for deep sea blocks Nov 17, 2014 01:56 PM IST

    Kelkar panel opposes revenue-sharing for deep sea blocks

    The 10-member Committee, headed by former petroleum and finance secretary Vijay Kelkar, said the PSC regime was more suited for Indian conditions rather than the revenue-sharing model based on the Rangarajan panel adopted by UPA govt.

  • '2G: Manmohan Singh should have stepped down, apologised' Nov 08, 2014 12:54 PM IST

    '2G: Manmohan Singh should have stepped down, apologised'

    "The CAG report on 2G and other issues," Chidambaram said, "clearly ...hurt the Congress party. I think 2G could have been handled differently in the sense that the Prime Minister could have put his foot down and said I am sorry, I will not let you go forward with the first come first serve (FCFS) route.

  • Jaitley asks CAG not to sensationalise its report Oct 29, 2014 06:48 PM IST

    Jaitley asks CAG not to sensationalise its report

    The CAG reports on 2G telecom spectrum allocation and coal mine allotment which carried figures of notional losses to the tune of Rs 1.76 lakh crore and Rs.1.84 lakh crore respectively had caused tremendous discomfort for the UPA government and the Congress party that headed the coalition.

  • ICICI Lombard, HDFC Ergo get tax notices Oct 16, 2014 06:57 PM IST

    ICICI Lombard, HDFC Ergo get tax notices

    Companies that are under are ICICI Lombard, HDFC Ergo and GIC Re, with sources indicating that ICICI Lombard and HDFC Ergo have got tax notice.

  • Kingfisher loan default only a 'trickle': Vinod Rai Sep 14, 2014 04:08 PM IST

    Kingfisher loan default only a 'trickle': Vinod Rai

    “Stories of Kingfisher Airlines and Bhushan Steel are only now emerging in trickles. The amount that has gone into corporate debt restructuring is another story; it contains all the marquee names,” he said.

  • Real problem with UPA not just principal-agent relationship Sep 13, 2014 05:31 PM IST

    Real problem with UPA not just principal-agent relationship

    Scams can happen even if principal-agent interests are not seriously misaligned in a democracy, but when the agent appoints another agent, the second agent at the other end of the equation will see his job as not serving the real principal (the people), but the principal who appointed him.

  • CBI can't be as autonomous or independent as CAG: Vinod Rai Sep 12, 2014 06:38 PM IST

    CBI can't be as autonomous or independent as CAG: Vinod Rai

    Rai, who has been critical of former Prime Minister Manmohan Singh in the context of 2G and coal scams, said that the control structure of CBI makes it vulnerable to becoming an "easy game" for various allegations and speculations.

  • Vinod Rai scoop: Was UPA steeped in corruption from birth? Sep 12, 2014 12:33 PM IST

    Vinod Rai scoop: Was UPA steeped in corruption from birth?

    UPA was steeped in corruption from birth, and this fact is difficult to deny anymore. Neither Sonia Gandhi, nor Manmohan Singh nor P Chidambaram can afford to claim innocence anymore.

  • Coalgate: Vedanta slams govt move to bat for just 46 blocks Sep 09, 2014 06:24 PM IST

    Coalgate: Vedanta slams govt move to bat for just 46 blocks

    Vedanta believes that their coal blocks should not be cancelled if there is no case of criminality.

  • SC's final verdict on coal blocks unlikely tomorrow: IIFL Sep 08, 2014 12:46 PM IST

    SC's final verdict on coal blocks unlikely tomorrow: IIFL

    Harshvardhan Dole, VP Research - Institutional Equities, IIFL does not expect final judgment by the Supreme Court tomorrow as many companies are in the process of filing affidavits, as suggested by the Attorney General. However, he is confident of the final verdict being announced in a few weeks.

  • Not clear what super regulator will do: Khullar Sep 05, 2014 10:57 AM IST

    Not clear what super regulator will do: Khullar

    Amid talks of a new telecom super regulato that could replace the existing Telecom Regulatory Authority of India (TRAI), former TRAI chairman Khullar discussed the merits and demerits of such a proposal.

  • Insurance cos under service tax net for flouting rules Sep 04, 2014 06:00 PM IST

    Insurance cos under service tax net for flouting rules

    According to the audit, many insurance companies wrongfully availed of the central value-added tax (CENVAT) scheme to avoid taxes on certain services.

  • SC begins hearing in coal block allocation scam Sep 01, 2014 06:39 PM IST

    SC begins hearing in coal block allocation scam

    Mukul Rohatgi on his part said that it would not be appropriate to cancel all the coal blocks. He has asked the Supreme Court also to come out with a ruling fast so that decision making is not delayed and the government can actually expeditiously move towards auction of blocks.

  • Cong stands exposed, reveal who had pressurised CAG: BJP Aug 24, 2014 06:15 PM IST

    Cong stands exposed, reveal who had pressurised CAG: BJP

    Attacking the Congress over former CAG Vinod Rai's claims, BJP today said the opposition party stood "exposed" and demanded that the identity of leaders who "approached him" to drop names of those involved in scams during the UPA regime be revealed.

  • RIL gas discoveries approved without appraisal: CAG Mar 10, 2014 01:14 PM IST

    RIL gas discoveries approved without appraisal: CAG

    RIL had found gas in the Dhirubhai-1 and 3 wells in October 2002 and were declared commercially viable finds between April 2003 and March 2004.

  • AAP accuses Mahagenco, Rel Infra of power tariff fraud Feb 21, 2014 10:50 AM IST

    AAP accuses Mahagenco, Rel Infra of power tariff fraud

    AAP said over the last three years, the state power company and politicians in Maharashtra have made consumers to pay excess tariff of Rs 22,000 crore.

  • Cos like Mahagenco are already audited by CAG: Pramod Deo Feb 21, 2014 10:00 AM IST

    Cos like Mahagenco are already audited by CAG: Pramod Deo

    Pramod Deo, Former Chairperson of CERC says these allegations basically mean that there is lack of faith in electricity act and the regulator. He however makes it clear that in no way is he defending the regulators and saying that they are doing their jobs well. "There is always scope for improvement," he adds.

  • CAG pulls up BHEL for delays in capacity addition Feb 17, 2014 07:41 PM IST

    CAG pulls up BHEL for delays in capacity addition

    CAG Audit report examined the adequacy and results of efforts of BHEL from conceptualisation to execution of manufacturing capacity expansion and its utilisation during 2007-12.

  • Par Panel seeks review of OVL's Imperial Energy acquisition Feb 06, 2014 09:27 PM IST

    Par Panel seeks review of OVL's Imperial Energy acquisition

    The Committee on Public Undertakings (COPU), which went into CAG's audit objections over January 2009 acquisition of Imperial Energy, in a report tabled in Parliament said the Cabinet Committee on Economic Affairs had approved the buyout of the firm on the condition that it would yield at least 10 percent return on investment.

  • TPDDL may reduce power surcharge if NTPC cuts costs ahead Jan 31, 2014 10:25 PM IST

    TPDDL may reduce power surcharge if NTPC cuts costs ahead

    Power surcharge in Delhi has now been hiked - the rates have gone up from 6 to 8 percent depending on which distribution companies delivers power. This will effectively take power tariffs higher.

  • HC refuses to stay govt's decision of CAG audit of discoms Jan 24, 2014 06:04 PM IST

    HC refuses to stay govt's decision of CAG audit of discoms

    The discoms have told the High Court that this is a pre-emptive decision taken by the Chief Minister, Arvind Kejriwal after meeting CAG officers.

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