13
Thursday
December 2018
10:39 AM IST
News Headlines
Aussies will fight back, but India has upper hand: Ghavri        World Tour Finals: Tough road ahead for Sindhu; Sameer too eyes knockout berth        Govt should consider 100% FDI in multi-brand retail trade: CII report        Shaktikanta Das named new RBI Governor        Khashoggi, other journalists named Time 'Person of the Year'        May tours Europe in desperate bid to save Brexit deal        Three policemen killed in Shopian by terrorists; weapons snatched        13 of 19 Rajasthan ministers lose elections; CM Vasundhara Raje retains her seat        Clear message to Modi that People are unhappy and it is time for change: Rahul on poll results        Cong leads in R'than, Chhattisgarh and MP; TRS races ahead in Telangana, MNF in Mizoram        Shakhtar prepare for home match 700 kilometres from home        AC Milan let Inter off the hook with Torino stalemate        Sensex cracks over 550 pts; Nifty drops below 10,600        Trump's potential next chief of staff pick leaving White House        UK PM faces fight for her political life in Brexit deal        BJP mocks Oppn meet, asks them to reveal PM candidate's name        RBI Governor Urjit Patel makes loud noise with silent exit        RLSP chief Upendra Kushwaha resigns from Union council of ministers        1st Test: India in cruise control as Australia reduced to 104/4 chasing 323        Over 16000 runners take part in Pune Half Marathon        
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National News
Punitive Action Against Anil Ambani’s Firm, Navy Encashes Bank Guarantee in Vessel Deal
 
(New Delhi, Dec 04, 2018):In a punitive action, the Navy has encashed a bank guarantee of the Reliance Naval Engineering Ltd in the Rs 3,000-crore contract for five offshore patrol vessels due to long delays in their supply, and said Monday that the deal is being examined.

"There is no preferential treatment being given to RNEL. Its bank guarantee has been encashed. Punitive action has been taken against it. The process is being taken forward," Navy Chief Admiral Sunil Lanba said at a press conference.

The Navy Chief was asked about the huge delay in delivery of the vessels by RNEL and whether Navy is under any pressure to not initiate any action against the company. Admiral Lanba said the deal is not being cancelled at the moment, but added that it is being looked into, indicating that government may take a call on the issue.

"It has not been cancelled at the moment but the contract is being looked at and is being examined and what we need to do with it," said the Navy chief. The Navy chief also said that the company is undergoing corporate debt restructuring. There was no immediate reaction from RNEL about the Navy chief's comments.

Anil Ambani's Reliance Defence has been at the centre of a controversy over the Rs 58,000-crore Rafale jet fighter deal. The Congress has accused the government of favouring the company. The company as well as the government have rejected the charges.

The original contract for the five naval offshore patrol vessels (NOPVs) was won by Pipavav Defence and Offshore Engineering in 2011. The company was bought over by Anil Ambani group in 2016.

Sources said the bank guarantee was 10 per cent of the size of the contract. According to the original contract, the first vessel was to be delivered by early 2015. However, the deadline was pushed several times.

Two patrol vessels — 'Shachi' and 'Shruti' — were launched at the Reliance shipyard in Pipavav, Gujarat, last year. RNEL was the first private sector company to obtain the licence and contract to build the patrol vessels. The vessels were to be armed with 76mm Super Rapid Gun Mount (SRGM) system.

The primary role of NOPVs is to undertake surveillance of the country's vast Exclusive Economic Zone (EEZ) besides operational tasks such as anti-piracy patrols, fleet support operations, maritime security of offshore assets and coastal security operations.


Three policemen killed in Shopian by terrorists; weapons snatched
13 of 19 Rajasthan ministers lose elections; CM Vasundhara Raje retains her seat
Clear message to Modi that People are unhappy and it is time for change: Rahul on poll results
BJP mocks Oppn meet, asks them to reveal PM candidate's name
RBI Governor Urjit Patel makes loud noise with silent exit
Can special consideration be shown to man with skin disorder: HC asks Centre
BJP files caveat in SC over 'rath yatra' in WB
More than 225 terrorists killed in J&K so far this year: Army
Glad key people shedding fear, breaking silence on govt decisions: Chidambaram
Krishnamurthy Subramanian appointed as Chief Economic Advisor for 3 years
TN Governor meets Modi, discusses issues of state
Christian Michel sent to 5-day CBI custody by court in VVIP chopper case
Mamata asks people to uphold the secular fabric of the country
Bulandshahr violence: UP CM meets slain inspector's family
Kashmir Valley records sub-zero temp on Tuesday night
Telangana set for change: Rahul Gandhi
PM latching on to Michel for 'smear campaign' against opposition leaders: Cong
Under PM Modi-Yogi Adityanath, Police, Common Man In Terror: Rahul Gandhi
Note ban had no impact, failed to keep check on black money: Ex-CEC Rawat
NGT slaps Rs 25 crore fine on Delhi govt for failing to curb air pollution
ENTERTAINMENT NEWS
Vaikom Vijayalekshmi ties knot with Anoop
 Vaikom: Playback singer Vaikom Vijayalekshmi has tied knot with Anoop N. at Vaikom Mahadeva temple.  
Mohanlal's Odiyan: Official trailer launched
Mammootty narrates Odiyan's intro?
Sradha Kapoor as Saina Nehwal: First look poster is out.
INTERNATIONAL NEWS
Khashoggi, other journalists named Time 'Person of the Year'
 New York, Dec 11 (AFP) Saudi journalist Jamal Khashoggi, who was murdered in October at his country'
May tours Europe in desperate bid to save Brexit deal
Trump's potential next chief of staff pick leaving White House
UK PM faces fight for her political life in Brexit deal
KERALA NEWS
Activist Rehana Fathima, Who Attempted Sabarimala Trek, Arrested Over Facebook Post
 (Kochi, Nov 28, 2018): Model and activist Rehana Fathima, who tried to reach Kerala's Sabarim
Good news for Keralite Nurses: IELTS cut-off reduced to 6.5
BJP leader K Surendran, 71 others granted bail
Sabarimala protests: Arrests up to 2061, Kerala HC warns police
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