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Srei Infra Fin PAT rises marginally
Srei Infrastructure Finance has posted a consolidated profit-after-tax (PAT) of Rs 38.91 crore for the first quarter of the current financial year as against Rs 43.20 crore during the same quarter the previous year, a fall of about 9.93 per cent.

Durables companies fast-track single-brand stores
Mono-brand stores, or single-brand retail outlets, have become the new growth mantra for consumer durables companies. What was a trickle initially is fast turning into a deluge, with leading companies drawing up aggressive plans to scale up their presence through mono-brand stores.

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HCL Infosystems Q2 net down 11% to Rs 59 cr
IT firm HCL Infosystems today reported a consolidated net profit of Rs 58.97 crore for the second quarter ended September 2009, a 10.77 per cent drop over the same period a year ago.
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Centre bans mining at six mines in AP

The Centre has suspended forest clearances of some firms, including that of the Obulapuram Mining Company owned by Karnataka minister G Janardhana Reddy, for allegedly carrying out "illegal" mining in six mines in Andhra Pradesh. - Centre bans mining at six mines in AP - India to again stress services at WTO ministerial talks - US, China emission cut promises are a smokescreen: CSE - T N Ninan: Losing a city">T N Ninan: Losing a city - Work on Gujarat"s largest mall put on back burner - Tejas twin-seat trainer makes its first flight The action has been taken by the Ministry of Environment and Forests after a Supreme Court-appointed committee suggested that "illegal" mining was being carried out in these six mines in Anantpur district, bordering Karnataka. The ministry has the asked the state government to ban mining activities at these mines immediately. Reddy and his brother G Karunakara Reddy, both BJP leaders, were in news recently for their rebellion against Karnataka Chief Minister B S Yeddyurappa and their attempts to dislodge him. Earlier, the Central Empowered Committee of the Supreme Court had said that the Obulapuram Mining Company (OMC) was carrying out "illegal" mining of iron ore in the Andhra Pradesh-Karnataka border. "The state government has been asked to stop mining activities at these six mines immediately. It will also stop the transportation of materials excavated at these six sites," a ministry official said. Besides, the Andhra Pradesh government has been asked to conduct a survey for demarcation of the mining boundaries. The ministry has advised the state government to get the survey done by Survey of India, the official said. Earlier, CEC recommended to the Supreme Court that all mining activity in the region be suspended immediately till the boundaries of the mining leases are determined and fixed by an independent agency. The CEC noted that "the objectivity, fairness and impartiality which is expected from a state government is shockingly lacking here and does not inspire confidence". The CEC was constituted by the Supreme Court to inquire into the matter based on a writ petition filed by Tapal Ganesh of Bellary against the OMC over the alleged illegal activity in violation of the Forest Conservation Act. "The mining boundaries now determined by the state were totally inconsistent and different in terms of area of the mining lease, shape, length and bearings of the boundary line and location of the mining leases of OMC. "Considering the shape of the mining leases, the CEC is of the view that without doubt there existed un-allotted forest area between three mining leases of OMC, Bellary Iron Ore Private Limited and Y M Sons and wherein illegal mining has taken place," the CEC report had said. The opposition parties in Andhra Pradesh, led by TDP, had been raising the issue of illegal mining for some time.


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