A final decision on granting green clearances for South Korean steelmaker POSCO's steel mill in India's eastern Orissa state will be made on January 31, Environment Minister Jairam Ramesh said.
Praveen Sood, CFO, HCC told CNBC-TV18 that there was a need to hike turnover majorly to tackle rising interest costs.
CNBC-TV18's Managing Editor Udayan Mukherjee says that HCC has already been hit quite a bit. He said the element of cash outflow in terms of fines or penalties will determine if the stock has more downside from current levels.
Lavasa has responded Ministry of Environment and Forest's order and said it would challenge the order in the Bombay High Court. In an interview with CNBC-TV18’s Shereen Bhan, Sudhir Mishra, Senior Consultant, Foxmandal Little, speaks about the issue and gives his outlook going forward.
In an interview with CNBC-TV18’s Shereen Bhan, Supreme Court Advocate, Gopal Jain, gave more perspective on the Lavasa saga.
The Environment Ministry submitted its reports on the Lavasa project yesterday. The report suggests that there have been gross violations by Lavasa. The violations are serious in nature the reports says and the Environment Ministry has said it would be difficult to approve the project.
It seems to be the era of open letters, and India Inc is using the platform to make its gripes and concerns known to the political leadership of the country.
Lavasa is still in limbo, the Bombay High Court has given the Environment Ministry an extension till January 21 to submit its final order on Lavasa.
Even as the inspection team of the environment ministry wraps up its three-day visit of ACC's showpiece Lavasa project, the committee headed by Naresh Dayal said that prima facie there doesn't seem to be a large scale destruction of forest area, reports CNBC-TV18’s Mehak Kasbekar.
The MoEF Ministry of Environment and Forest has sought data on weather monitoring, ground water levels from Lavasa. An Environment Minsiter inspection team is currently surveying the Lavasa project.