Kaisa Shareholders Approve $4.8 Bn Bond Issue in Restructuring Plan

Udhampur-Baramulla Rail Link Set to Begin Operations by January

The much-anticipated Udhampur-Srinagar-Baramulla Rail Link (USBRL) is nearing completion, with operations likely to commence in January 2025, according to Northern Railway General Manager Ashok Verma. Speaking to reporters, Verma confirmed that work on the final tunnel in the Reasi region, known as T-33, is expected to be finished within a week. "We are hopeful of achieving connectivity by January. Once completed, all trains, including Vande Bharat, will operate on this route, and a timetable will be prepared," Verma said. The completion of the USBRL is expected to transform connectivity for..

Vadhavan Port Land Survey Begins Amid Local Opposition

The land acquisition process for the proposed Vadhavan Port near Dahanu in Maharashtra's Palghar district commenced on Monday, with teams from the National Highways Authority of India (NHAI), Indian Railways, and district officials initiating a survey of the 574-hectare area. According to Jawaharlal Nehru Port Authority (JNPA) Chairman Unmesh Sharad Wagh, the survey will conclude on December 18, followed by land acquisition proceedings and compensation distribution. Envisioned as one of the world’s largest ports, the Vadhavan Port project is slated for completion in two phases, with the fir..

Karnataka Introduces Bill to Tax Mines and Mining Land

In response to a recent Supreme Court ruling allowing state governments to impose taxes on minerals, the Karnataka government presented the Karnataka (Mineral Rights and Mineral Bearing Land) Tax Bill 2024 in the Assembly. This move is expected to generate over Rs 47 billion in additional revenue. Under the proposed legislation, tax will be payable by mining leaseholders at the time of dispatching minerals, with different tax rates applied based on the mine’s category. A uniform tax rate is suggested for mining leases within the same category, taking into account the current additional paym..