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Sarda Energy & Minerals receives consent to operate coal gasifier plant

Sarda Energy & Minerals receives consent to operate coal gasifier plant

Sarda Energy & Minerals announced that Chhattisgarh Environment Conservation Board, Raipur has granted, to the Company, under Water (Prevention and Control of Pollution) Act, 1974 and Air (Prevention and Control of Pollution) Act, 1981, the Consent to Operate Coal Gasifier Plant of capacity 3606.15 Nm3/hr for Pellet Plant at Raipur.Powered by Capital Market - Live News

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Only 30% of MahaRERA recovery warrants executed; Rs 527cr still to be recovered
Only 30% of MahaRERA recovery warrants executed; Rs 527cr still to be recovered

Time of India

time11 hours ago

  • Time of India

Only 30% of MahaRERA recovery warrants executed; Rs 527cr still to be recovered

Pune: MahaRERA's progress on recovery warrant has remained slow, with only 31% of cases executed. Despite state govt's directive to dispose of these cases within three months, merely Rs 233 crore has been recovered out of Rs 760 crore due in 1,212 cases across Maharashtra, officials told TOI on Saturday. The slow progress contradicts revenue minister Chandrakant Bawankule's assurance during the state budget session, where he emphasised speedy execution of MahaRERA's recovery warrant orders and clearing the backlog within three months. The recovery warrants are issued under Section 40(1) of the Real Estate (Regulation and Development) Act (RERA) against developers who neither complete projects nor refund homebuyers. Once issued by MahaRERA, these orders are forwarded to district collectors for action, including property attachment and recovery of dues. The districts of Mumbai Suburban, Pune and Thane continue to report the highest backlog of such pending cases. You Can Also Check: Pune AQI | Weather in Pune | Bank Holidays in Pune | Public Holidays in Pune "Though there was some improvement in execution rates, the scale of pendency remains significant. It requires more proactive coordination from revenue officials," said a senior MahaRERA official, adding that it was despite the appointment of additional collectors in multiple districts to expedite the execution of recovery warrants. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Top 5 Dividend Stocks for May 2025 Seeking Alpha Read More Undo Further compounding delays are 172 complaints, involving Rs 157 crore, that are currently pending before the National Company Law Tribunal (NCLT), which handles cases related to insolvency and bankruptcy. These cases are in legal limbo, adding to the frustration of affected homebuyers, stated officials In a broader push for accountability, PM Narendra Modi had addressed the issue directly at the Pragati review meeting on May 29. Expressing dissatisfaction with the mere counting of "disposed" complaints, the PM questioned whether states genuinely ensured redressal. In response, Maharashtra chief secretary Sujata Saunik held a review meeting in the second week of June with collectorates across the state, directing officials to fast-track execution of recovery warrants and ensure accountability. Additional revenue officers have since been appointed to assist with enforcement. Senior citizen Arun Sheth, who has been waiting for over four years for action against a developer, said, "There's been no real movement on my case despite repeated follow-ups. It's just silence." Activists and consumer groups have also called for better monitoring tools. "MahaRERA should introduce a real-time dashboard like UP RERA's. There should be a clearly defined SOP and phase-wise targets, not just vague timelines," said activist R Prabhu. MahaRERA officials said the issue was likely to be raised in the upcoming legislative session. "It's important that revenue officials are able to give a concrete and time-bound plan for executing these orders," an official noted.

New draft of U.S. law cuts remittance tax to 1%, exempts bank and card transfers
New draft of U.S. law cuts remittance tax to 1%, exempts bank and card transfers

The Hindu

time18 hours ago

  • The Hindu

New draft of U.S. law cuts remittance tax to 1%, exempts bank and card transfers

U.S. legislators have significantly diluted the provision in the proposed legislation to tax remittances to other countries, including to India. The latest version of the Bill, released on Friday (June 27, 2025), reduces the tax on remittances to 1% from the earlier proposal of 3.5%, and excludes remittances made from bank accounts and other financial institutions and those made via debit or credit cards from the tax. The 1% tax will now apply only on remittances made in cash, a money order, or a cashier's check. According to international tax experts, this will come as a significant relief to the non-resident Indian (NRI) community in the U.S. The 'One Big Beautiful Bill Act' was passed by the U.S. House of Representatives in May 2025. It is now up for debate in the U.S. Senate, following which it will be voted upon. 'There is hereby imposed on any remittance transfer a tax equal to 1 percent of the amount of such transfer,' the latest version of the Act says. 'The tax imposed by this section with respect to any remittance transfer shall be paid by the sender with respect to such transfer.' However, the latest draft also inserts additional paragraphs to the section on the tax on remittances. 'The tax imposed under subsection (a) shall apply only to any remittance transfer for which the sender provides cash, a money order, a cashier's check, or any other similar physical instrument (as determined by the Secretary) to the remittance transfer provider,' the draft Bill said. In addition, the Bill now says that remittances made from 'an account held in or by a financial institution' and 'funded with a debit card or a credit card which is issued in the United States' are exempt from the tax. 'Senate Republicans released their updated draft of the proposed One Big Beautiful Bill Act on June 27 and have a self imposed deadline of July 4 to try to pass this bill,' Lloyd Pinto, Partner - U.S. Tax at Grant Thornton Bharat said. 'The updated Senate version significantly changes the remittance transfer provisions that were passed by the House Republicans. In the latest Senate draft, the remittance transfer tax has been reduced to 1% from the erstwhile proposal of 3.5%.' The 3.5% tax proposal itself was a reduction brought into the Act in May from the original proposal of 5%. 'This (the latest relaxations) should come as a huge relief to the NRI community in the US as they will not be subject to this remittance tax if the remittances are made through accounts held with designated US banks and financial institutions or funded via debit or credit cards issued in the U.S.'

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