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Essar Steel is being auctioned after the company defaulted on payment of about Rs 49,000 crore loan to lenders..During the proceedings, senior advocate Harish Salve, appearing for Arcelor Mittal, sought stay over the second round of bidding contending that it has already cleared Rs 7,000 crore dues of Uttam Galva and KKS Petron."The appellate tribunal further said that the resolution professional (RP) of the debt ridden firm would ensure day-to-day running. NCLAT would conduct daily hearing from July 23 on the matter. New Delhi: The National Company Law Appellate Tribunal (NCLAT) has directed the resolution professional, committee of creditors and NCLT not to pass any order in the matter related to insolvency resolution of Essar Steel. List for hearing on July 23," said an NCLAT bench headed by Chairman Justice S J Mulhopadhaya.

Appeals admitted.NCLAT would conduct daily hearing from July 23 on the matter. It further added, "Until further order RP, CoC and adjudicating authority (NLT) will not pass any order including order of liquidation of corporate debtor.The appellate tribunal also admitted the cross petitions filed by Russia&hex flange nut Suppliers39;s VTB Capital-based NuMetal and Arcelor Mittal, two resolution applicant challenging their disqualification for Essar Steel.However, senior advocate Mukul Rohatgi asked the tribunal to allow to open the second round of bidding, in which it has placed over Rs 37,000 crore bid. NCLAT has directed the resolution professional, committee of creditors and NCLT not to pass any order in the matter related to insolvency resolution of Essar Steel.Both NuMetal and ArcelorMittal put in a second round of bids after the first bids were opined # to be invalid -- NuMetal because of it being 25 per cent owned by Aurora Trust of Ruia family, the promoters of Essar Steel; and ArcelorMittal because of it being holding shares in loan defaulting companies Uttam Galva Steel and KSS Petron

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Net metering involves setting up roof top solar panels and producing power for self consumption, whi-le the surplus can be sold to the power distribution co-mpanies at rates approved by the Delhi Electricity Regulatory Commission (DERC). Of the total 206 net metering connections, wi-th a sanctioned load of ov-er 7 MW operational in the city, 40 are housed in schoo-ls and educational institutes having sanctioned load of over 1,600 kW (over 1. Power major BSES, that caters to around 70 per cent of the city, said that educational institutes have pipped the other two categories — domestic and commercial — in floor insulation Suppliers terms of sanctioned load.6 MW). The potential of the solar power initiative, launched in 2015, in BSES area is in excess of 250-300 MW, the discom said.

The response to net metering has been incredibly encouraging. With leading schools installing solar panels on their rooftops to meet their power consumption, net metering has caught the interest of educational ins-titutes across the capital..With leading schools installing solar panels on their rooftops to meet their power consumption, net metering has caught the interest of educational ins-titutes across the capital. The BSES has energised such connections ranging from a sanctioned load of 1 kW to 1,000 kW. These consumers save between Rs 1,000 to Rs 10 lakh per month,” a BSES spokesperson said

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The solar panel system installed at Shivalaya Tower in Thakur complex, Kandivali East, is expected to generate around 49,000 units every year.The solar panel system installed at Shivalaya Tower in Thakur complex, Kandivali East, is expected to generate around 49,000 units every year.. (Photo: Pixabay) Mumbai: A Kandivali society is saving its electricity bill by 50 per cent by installing solar panels at the rooftop. Around 108 solar panels have been installed in the society of the capacity of 35 kilowatt.6 crores over 27 years.

For its contribution to the environment, it could reduce 51. By installation od solar panel it is expected to further reduce the bill by Rs 6 lakhs per year leading to almost 75 per cent of the bill,” said Sanjay Puria, managing secretary, Shivalaya Tower. “We are harnessing renewable energy for a sustainable future. It has also installed net metering system that credits solar energy system owners with the balance amount from the grid getting after the energy generation from solar panels.The 25-storey residential society has 97 flats that accounted to an electricity xps foam Factory bill of Rs 12 lakh per year.1 tonnes of CO2 emissions every year.

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