Mangaluru: MRPL inks MoU with Forest Department to green coastal region
MRPL to spend Rs 1.45 crore to support coastal afforestation
Mangaluru, Mar 6: The public sector Mangalore Refinery and Petrochemicals Limited (MRPL) has joined hands with Karnataka Forest Department to support the afforestation in the coastal region.
Under the project, MRPL would assist the departments initiative towards the plantation project atTannirbhavi village near Bengre, a deemed forest area near here.
The public sector undertaking (PSU) entered into a memorandum of understanding (MoU) with the Forest Department agreeing to extend financial support to the tune of Rs 1.45 crore excluding taxes.
A total of 4,000 trees of various species are planned to be planted, covering an area of 10 hectares.
MRPL has taken up this project under its corporate environment responsibility project.
The PSU would also assist the Forest Department by supporting its seashore afforestation mitigation measures.
The sandy beach soil would be replaced with fresh red soil, shade net would be provided at the seashore area for salted sea breeze control, water for seedlings and trees also would be arranged at Bengre for supporting the growth of trees and plants.
These initiatives of MRPL are expected to help the Forest Department combat the menace of coastal deforestation and would benefit the region to strengthen the environment to reduce the ill-effects of climate change.
The project is planned to have a timeline till 2025 for completion, a press release here said.
MRPL signed MoU with Karnataka Forest to implement the Afforestation Forest Project in Tannirbhavi, Mangaluru under our Corporate Environment Responsibility (CER) Activity@ONGC_ @HPCL @PetroleumMin @dpradhanbjp @drvkarikalan @moefcc @PrakashJavdekar @aranya_kfd
— MRPL-ONGC (@MRPL_CC) March 6, 2021
@ArvindLBJP pic.twitter.com/TX59JbbWa7
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US SEC summons Gautam Adani, nephew Sagar in bribery case
New York (PTI): Adani group founder and chairman Gautam Adani and his nephew Sagar have been summoned to explain their stand on the US Securities and Exchange Commission (SEC) allegation of paying USD 265 million (Rs 2,200 crore) in bribes to secure lucrative solar power contracts.
Summons have been sent to Adani's Shantivan Farm residence in Ahmedabad and his nephew Sagar's Bodakdev residence in the same city for a reply to SEC within 21 days.
"Within 21 days after service of this summons on you (not counting the day you received it)...you must serve on the plaintiff (SEC) an answer to the attached complaint or a motion under Rule 12 of the Federal Rules of Civil Procedure," said a November 21 notice sent through the New York Eastern District Court.
"If you fail to respond, judgment by default will be entered against you for the relief demanded in the complaint. You also must file your answer or motion with the court," it added.
Gautam Adani, 62, and seven other defendants, including his nephew Sagar, who is a director at the group's renewable energy unit Adani Green Energy Ltd, allegedly agreed to pay about USD 265 million in bribes to Indian government officials between approximately 2020 and 2024 to obtain lucrative solar energy supply contracts on terms that expected to yield USD 2 billion of profit over 20 years, according to an indictment unsealed in a New York court on Wednesday.
Separate from the indictment brought by the US Department of Justice, the US SEC has also charged the two and Cyril Cabanes, an executive of Azure Power Global, for "conduct arising out of a massive bribery scheme".
The ports-to-energy conglomerate has denied the allegations and said it will seek all possible legal resources.
"The Adani Group has always upheld and is steadfastly committed to maintaining the highest standards of governance, transparency and regulatory compliance across all jurisdictions of its operations. We assure our stakeholders, partners and employees that we are a law-abiding organisation fully compliant with all laws."
An indictment in the US is basically a formal written allegation originating with a prosecutor and issued by a grand jury against a party charged with a crime. A person indicted is given formal notice to reply.
That person or persons can then hire a defence lawyer to defend.
Prosecutors said the investigation started in 2022 and found the inquiry obstructed.
They also allege that the Adani Group raised USD 2 billion in loans and bonds, including from US firms, on the backs of false and misleading statements related to the firm's anti-bribery practices and policies, as well as reports of the bribery probe.
"As alleged, the defendants orchestrated an elaborate scheme to bribe Indian government officials to secure contracts worth billions of dollars and... lied about the bribery scheme as they sought to raise capital from U.S. and international investors," US Attorney Breon Peace said in a statement announcing the charges on Wednesday.
"My office is committed to rooting out corruption in the international marketplace and protecting investors from those who seek to enrich themselves at the expense of the integrity of our financial markets."
