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MLR Motors gets time till March for financial closure
Hyderabad-based MLR Motors, which failed to achieve financial closure for its Rs 1,250-crore project, got a fresh lease of life with the Andhra Pradesh government agreeing to extend the deadline till March 31, 2010.

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Bill to give legal cover to metro rail in NCR, other cities

A bill to give legal cover for construction, operation and maintenance of the metro rail system in the National Capital Region and other metro cities was introduced in the Lok Sabha today. - J Kumar Infraprojects bags orders worth Rs 154 cr - Japanese firms invest $1.6bn in India cos - Cracks spotted on pillars of metro tracks connecting Noida - HCC posts 41% drop in net profit - HC issues notice to Gammon India in Delhi Metro mishap case - Petron Engg up on Jaiprakash order The Metro Railways (Amendment) Bill 2009, which was introduced by Urban Development Minister S Jaipal Reddy, was necessary as currently there were no statutory provisions to provide legal backing to the development, construction, operation and maintenance of metro rail system outside Delhi. Work was already on to extend the Delhi metro network to areas like NOIDA in Uttar Pradesh and Gurgaon in Haryana. Metro rail network was also being constructed in Bangalore and Chennai, while implementation of the system was at different stages of consideration for cities like Mumbai, Chandigarh, Hyderabad and Kochi. "Therefore, it has become necessary to make suitable amendments in the Metro Railways (Construction of Works) Act 1978 and the Delhi Metro Railway (Operation and Maintenance) Act 2002 so as to make the provisions of both these Acts applicable to the metro railways in the NCR, metropolitan cities and other areas for development, construction, operation and maintenance of metro railways," the Statement of Objects and Reasons of the bill said. These bills are not being made applicable to metro operations in Kolkata as it was being regulated through the Calcutta Metro Railway (Operation and Maintenance) Temporary Provisions Act 1985, it said.


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