Business Economy


Telangana's Singareni gets Rs 40 cr refund for successful closure of Dorli-2 Opencast Mine

Hyderabad, June 10 (UNI) The Singareni Collieries Company Limited (SCCL) has received approval for the refund of nearly Rs 40 crore, including accrued interest, from the Coal Controller Organisation (CCO) following the successful closure of the Dorli-2 Opencast Mine in Bellampalli Area in accordance with the Ministry of Coal's guidelines.
The refund is a recognition of the company's commitment to environmentally sustainable mining practices and its effective implementation of mine closure obligations, the state owned mining company said in a release here on Wednesday.
The company had deposited Rs 26.79 crore with the State Bank of India during 2013-14 as an escrow fund towards environmental protection measures, land reclamation, rehabilitation activities and other mine closure commitments mandated by the Ministry of Coal.
After seven years of coal production, the Dorli-2 Opencast Mine was closed during 2023-24. SCCL subsequently implemented all components of the approved Mine Closure Plan, including environmental restoration and rehabilitation measures.
To verify compliance, a third-party audit was conducted in July 2024 by the Indian Institute of Engineering Science and Technology (IIEST), Shibpur, West Bengal.
The audit confirmed that SCCL had fulfilled all mine closure obligations and complied with the prescribed environmental and statutory norms.
Based on the audit findings, the Coal Controller Organisation approved the refund of the deposited amount along with accumulated interest.
Deputy Assistant Coal Controller Akash Shiva Hare, in a recent communication, informed SCCL that 90 per cent of the refundable amount, amounting to Rs 36.63 crore, would be released immediately.
The remaining 10 per cent will be released after examination of provisions relating to Just Transition measures.
SCCL said the development reflects its commitment to balancing coal production with environmental conservation and sustainable mining practices.
The company stated that the refund also acknowledges its transparent implementation of environmental safeguards, land reclamation works and rehabilitation commitments undertaken throughout the life cycle of the mine.
The Singareni management expressed satisfaction over the decision, describing it as a significant endorsement of the company's efforts towards responsible and sustainable mining.
UNI KNR SAS
More News

Industrial and warehousing leasing rises 12pc to 22 million sqft; Delhi NCR, Chennai lead: Report

16 Jul 2026 | 6:33 PM

New Delhi, Jul 16 (UNI) India's industrial and warehousing real estate market maintained strong momentum during the first half of 2026, with Grade A leasing rising 12pc year-on-year (Y-o-Y) to nearly 22 million square feet across the country's top eight cities, despite global geopolitical uncertainties impacting supply chains.

see more..

NSE to launch derivatives on Nifty India FPI 150 Index

16 Jul 2026 | 5:35 PM

Mumbai, Jul 16 (UNI) The National Stock Exchange (NSE) officially announced here on Thursday that it has received approval from the Securities and Exchange Board of India (SEBI) to introduce derivatives on the Nifty India FPI 150 Index, expanding its equity derivatives product suite, which would offer foreign portfolio investors (FPIs) another benchmark-linked hedging instrument.

see more..

Stock markets fail to hold early gains, weigh down by weak global cues

16 Jul 2026 | 5:21 PM

New Delhi, Jul 16 (UNI) The Indian Stock Markets on Thursday failed to hold on to their early gains and ended flat in a volatile session. Indices were weighed down by weak global cues and profit booking.

see more..

Crisil FCI Index improves in June on easing US-Iran tensions, stronger rupee and favourable FPI Inflows

16 Jul 2026 | 4:24 PM

New Delhi, Jul 16 (UNI) Crisil’s Financial Condition Index (FCI) rose to - (negative)0.2 in June from - (negative)1.2 in May after remaining below the comfort band of one standard deviation from the long-period average for three months due to easing geopolitical situation, slight strengthening of the Rupee, and favourable FPIs, said the monthly Macroeconomics First Cut.

see more..

India to see slower growth in 2026 amid global headwinds: Moody's Analytics

16 Jul 2026 | 3:56 PM

New Delhi, Jul 16 (UNI) India's economy is expected to moderate this year as escalating geopolitical tensions, softer global demand and persistent trade uncertainties weigh on economic activity, according to Moody's Analytics.

see more..