Bye bye bye-laws
Highlights
Building block: Where are the stricter rules?
No progress on draft bye-laws that were supposed to stop illegal constructions in city as councillors are unable to see eye to eye
The draft
BBMP) about two years ago, are gathering dust. Presented as a solution for stopping
illegal constructions and adopting environment-friendly buildings in the city, the exercise of updating the bye-laws, which was last revised in 2003, fell apart after it met opposition in the council. No fresh attempt has been made to re-start the work.
Among several provisions proposed in the revised document is the powers that the civic body gave itself to take punitive measures to check illegal constructions. That could be either forfeiting the entire ground floor or 10 per cent of the total built up area or stiff fines of at least Rs 1 lakh if the
Polarcus addressing long term financing structure following financial default
26 Jan 2021
Polarcus has confirmed to the relevant Finance Parties a payment default under its
Working Capital Facility Agreement. The Company intends to pursue all available options with a view to ensuring the financial sustainability of the Company and in the meantime will halt all payments of interest and amortization to finance providers.
In light of the sustained economic challenges globally, the Company has been in detailed discussions with its bank lenders to explore financial solutions. During this period, the Lenders consented to the extension of certain financial obligations under the Company’s bank facilities until 25 January 2021 including the obligation to clean down the USD 25 million which had been drawn down from the Group’s Working Capital Facility Agreement ( WCF ). The Lenders have now informed the Company that no further extension will be granted at this time. With the expiratio
Getech, a provider of data, knowledge and software products to the energy industry, has announced the signing of two exclusive strategic partnerships, which together position Getech at the forefront of work to establish a national network of hydrogen generation, storage and retail hubs.
AIM-listed Jersey Oil & Gas has announced a significant increase in the 2C contingent resource estimate for the Buchan oil field, within the Greater Buchan Area in the UK North Sea.