MRPL records Rs 500 cr loss in first quarter; water scarcity in Mangaluru one of the reasons

coastaldigest.com news network

August 4, 2019

Mangaluru, Aug 4: Mangalore Refinery and Petrochemicals Ltd (MRPL) has recorded loss of Rs 500 crore in the first quarter of 2019-20 as against a net profit of Rs 361.96 crore in the corresponding period of previous fiscal.

Addressing presspersons in Mangaluru on Saturday, Shashi Shanker, Chairman of MRPL, said the water scarcity in Mangaluru during the period led to force major shutdown of some of the refinery units.

In addition to that there was a planned shutdown of the refinery units. These factors affected the bottom line and top line of the company during the first quarter.

The gross refining margin (GRM) of the company stood at $(-)0.42 a barrel during the first quarter of 2019-20 as against $8.28 a barrel in the corresponding period of 2018-19.

M Venkatesh, Managing Director of MRPL, said the unprecedented water scarcity affected the operation in the refinery complex for more than a month and a half. This is one of the reasons for the negative GRM during the quarter.

Stating that things are going to improve in the remaining three quarters of 2019-20, he said the company is setting up a seawater de-salination plant with an investment of ₹620 crore. The plant is likely to be ready by September 2020.

“We have plans in place for tackling the summer. We are trying to get some temporary desalination facilities to generate as much as possible for the period of four-five months and try and reduce the impact, if any,” he said. The company is also focusing on increasing the use of domestic sewage.

MRPL’s gross revenue from operations stood at ₹11,200 crore during the Q1 of 2019-20 as against ₹16,583 crore in the corresponding period of 2018-19.

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Lokayukta to probe Siddaramaiah as special court orders filing of FIR in MUDA case

News Network

September 25,2024

In a significant development, a special court tasked with handling cases against Members of Parliament and Members of Legislative Assemblies (MP/MLAs) has ordered that a First Information Report (FIR) be filed regarding the Muda case.

Additionally, the Karnataka Lokayukta, which is an anti-corruption body, has been tasked with investigating allegations against Siddaramaiah, who is reportedly involved in the case.

The court instructed the Lokayukta (an anti-corruption authority) to provide a report within three months. It also ordered the relevant authorities to file a First Information Report (FIR) regarding the case.

Judge Santhosh Gajanan Bhat issued the directive, compelling the Mysuru Lokayukta police to commence an investigation following a formal complaint lodged by Snehamayi Krishna.

The Karnataka Lokayukta in Mysuru is required to carry out the investigation under Section 156 (3) of the Criminal Procedure Code, which mandates the registration of a First Information Report (FIR).

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No relief for Siddaramaiah in MUDA case as HC junks plea against Governor's sanction

News Network

September 24,2024

The Karnataka High Court on Tuesday dismissed the petition filed by Chief Minister Siddaramaiah against Governor Thawarchand Gehlot's decision to sanction the complaint and investigation against him in the alleged Mysore Urban Development Authority (MUDA) scam case.

Justice M Nagaprasanna said the facts narrated in the petition would undoubtedly require an investigation.

The court has also said that the Governor's order approving sanction to investigate against Siddaramaiah under section 17A of the Prevention of Corruption Act does not suffer from application of mind, instead has abundance of application of mind.

Meanwhile, the court rejected the request made by senior advocate Abhishek Singhvi to stay the order of the court. The court has vacated the interim order passed on August 19. In the interim order the trial court was directed not to take any precipitative action against Siddaramaiah. On August 17, Governor had approved sanction under section 17 A of the Prevention of Corruption Act and Section 218 of Bharatiya Nagarik Suraksha Sanhita ( BNSS), citing three applications.

The court said the private complainants were justified in registering the complaint and seeking approval from the governor.

Insofar as private complainants seeking sanction under section 17A, the court said the provision nowhere requires only a police officer to seek sanction from a competent authority. The court further said it is in fact the duty of the private complainants to seek such approval.

Earlier, The High Court had completed its hearing in the case on September 12, and reserved its orders. It had also directed a special court in Bengaluru to defer further proceedings and not to take any precipitative action against the Chief Minister.

The case pertains to allegations that compensatory sites were allotted to Siddaramaiah's wife B M Parvathi in an upmarket area in Mysuru that had higher property value as compared to the location of her land that had been "acquired" by MUDA.

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