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Breach of Contract : Probe lingers, locomotives remain idle

The railways ministry has reconstituted a committee investigating a South Korean company for violating some clauses of the contract under which 10 locomotives have been supplied to the Bangladesh Railway. The changes in the probe committee came more than three months after Railways Minister Nurul Islam Sujan ordered the formation of the committee, which was supposed to complete the work within 15 working days. In the meantime, the locomotives have been lying idle at a railways workshop in Chattogram s Pahartoli for around five months, at a time when the BR is struggling to run its operation with a big number of outdated engines.

Paytm revenue up 1 4% to Rs 3,629 cr; losses decrease 30% to Rs 2,942 cr

One 97 Communications Limited, that owns and operates digital payments firm Paytm reported its consolidated revenues for the financial year 2019-20 as Rs 3,629 crore, a 1.4 per cent increase since the last financial year. However, on a standalone basis, it reported a revenue of Rs 3,351 crore, a 1 per cent fall compared to last year. The company further reported a consolidated net loss of Rs 2,942 crore during the same fiscal. This is a 30 per cent decrease from the last financial year, showed regulatory documents sourced from business intelligence platform Tofler. The company’s total expenses for the fiscal were reported as Rs 6,226 crore on a consolidated basis.

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