Skip to content
Search

Latest Stories

India’s Environment Court Adjourns Hearing On Vedanta Copper Smelter Case

India’s environment court, National Green Tribunal (NGT) on Friday (7) has adjourned its hearing on Vedanta Ltd’s case to Monday (10) to rule whether to allow the firm to restart its copper smelter in Thoothukudi which was closed earlier this year following violent protests causing to the death of 13 people.

Earlier, a team of experts formed by India’s environment court said that the Tamil Nadu state government authorities hadn’t complied with the rules, regulations, and procedures before forcefully closing the smelter.


The closed copper smelter is located at coastal town, Thoothukudi in India’s southern state, Tamil Nadu.

In an argument before NGT, the advocate representing Tamil Nadu Pollution Control Board on Friday questioned the authority of the expert team to decide on whether the ban on a smelter in Tamil Nadu be cancelled.

The state government officials permanently closed the copper smelter after the police fired at the violent protesters who urged the concerned to shut down the plant in May over concerns that the plant was heavily polluted air and water in the area.

However, Vedanta's lawyer Aryama Sundaram informed the court that his firm had planned to invest one billion rupees to construct hospitals and schools for the local people who are living close to the copper plant.

According to the sources, the copper smelter is unlikely to restart its functioning in the near future as the Tamil Nadu state government is expected to appeal before the Supreme Court if it loses the case in the NGT.

The closure of Vedanta’s copper smelter has hit the revenue earning of the firm. The copper smelter is of one of the biggest smelters in India. Resuming the work is essential to Vedanta as it witnessing the rising costs and the impact of a slowing economy on demand for metals and energy.

More For You

Deliveroo posts first annual profit after 12 years

A Deliveroo rider near Victoria station in London, England. (Photo by Dan Kitwood/Getty Images)

Deliveroo posts first annual profit after 12 years

FOOD DELIVERY app Deliveroo announced on Thursday (13) its first annual profit as orders and revenue rose, while the 12-year old company sees further growth despite exiting Hong Kong.

The milestone follows sizeable full-year losses owing to high investment costs since American Will Shu founded the company in 2013 and made Deliveroo's first delivery in London.

Keep ReadingShow less
JLR-Tata-Getty

JLR had initially planned to manufacture more than 70,000 electric vehicles at the facility. (Photo: Getty Images)

JLR halts plan to build EVs at Tata’s India plant: Report

JAGUAR LAND ROVER (JLR) has put on hold plans to manufacture electric vehicles at Tata Motors’ upcoming £775 million factory in southern India, according to a news report.

The decision was influenced by challenges in balancing price and quality for locally sourced EV components, three of the sources said. They added that slowing demand for electric vehicles was also a factor.

Keep ReadingShow less
Government to abolish payments regulator to boost growth

Keir Starmer (R) and Rachel Reeves host an investment roundtable discussion with members of the BlackRock executive board at 10 Downing Street on November 21, 2024 in London, England. (Photo by Frank Augstein - WPA Pool/Getty Images)

Government to abolish payments regulator to boost growth

PAYMENTS REGULATOR will be abolished and its remit absorbed by another financial regulator, the government said on Tuesday (11), as it aims to cut red tape in favour of growth.

The Payment Systems Regulator (PSR), which oversees systems including MasterCard and bank transfers, tackles problems such as fraud, excessive fees and lack of competition among banks and payment providers.

Keep ReadingShow less
Boohoo

Boohoo’s shares, which have fallen by about 20 per cent this year, dropped 4 per cent on Tuesday. (Photo: Getty Images)

Boohoo rebrands as Debenhams after 21 per cent sales drop

BOOHOO has rebranded itself as Debenhams Group after sales from its young fashion brands, including Boohoo, MAN, and PrettyLittleThing, declined by 21 per cent to £947 million.

The move comes amid strong competition from Shein and a shift towards second-hand clothing among younger shoppers, The Guardian reported.

Keep ReadingShow less