JSW Steel's Coal Block Agreement Canceled

12 Nov 2024 CW Team

The government has canceled the coal block agreement awarded to JSW Steel for non-compliance with development obligations. In addition to the cancellation, the company faces a forfeiture of its ?100 crore performance guarantee. The decision highlights the government's commitment to enforcing timely and responsible development of coal mining operations and penalizing entities that fail to meet required timelines and standards.

JSW Steel was allocated the coal block as part of the coal mine auction process, which aimed to promote the efficient use of India's natural resources. However, the company has not met the deadlines and obligations set for the development of the block, leading to this severe penalty. The forfeiture of the ?100 crore guarantee underscores the government's no-tolerance stance on delayed execution in critical sectors such as mining.

This move is expected to have wider implications on the industry, signaling to other players that they must prioritize compliance with regulatory requirements or face similar penalties. It also puts the spotlight on the ongoing challenges in India’s coal sector, where timely development and environmental responsibility are major concerns.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..